Nitel: New Generation Consortium Gets China Unicom ( Europe ) Operations Backing

New Generation Telecom Consortium Limited winner of the bid for 75 per cent in the Nigerian Telecommunications Limited (Nitel) got a major boost at the weekend as China Unicom ( Europe ) Operations Limited officially declared support for the consortium.
 
In a terse four paragraph letter signed by Han Zhigang, chairman of Unicom ( Europe ) Operations Limited, the company pledged to work with New Generation Telecom Consortium to revive the moribund national carrier.
 
The dated March 16, 2010 was addressed to Usman Gumi, leader of New Generation Telecom Consortium tread in part “ I  refer to you letter to my colleague, Mr. William So, dated March 15, 2010 regarding the proposed privatization of Nitel.  I set out below our responses to your request as follows: as stated in the previous letter to Mr. William So, we confirm that subject to terms to be agreed when the bid is finally won, China Unicom ( Europe ) Operations Limited is willing to be technical partners to support New Generations Consortium Limited.”
 
“May I take this opportunity t inform you that I have been authorized by the board of directors of China Unicom (Europe) Operations Limited  to be the only authorized representative for any matters regarding our company’s potential participation in the Nitel privatization  transaction” Han Zhigang added
 
The endorsement by China Unicom ( Europe ) Operations is coming on the heels of statement by Minerva Group Dubai, principal financier of the consortium which that said it has the financial muscle to turnaround the national carrier.
 
Minerva Group, it was learnt is eager eager to establish footprint in Nigeria ’s lucrative telecom market.
 
Minerva has declared their willingness to finance the reentry of Nitel into the market with as much as $2 billion in the first instance as well as pay the bid price.