The Asset Management Corporation of Nigeria (AMCON) has begun searching for strategic investors for NTEL after restructuring positioned the telecommunications operator for fresh investment.
NTEL announced the development in a statement on Monday, describing it as the next phase of its growth strategy following AMCON’s recovery of significant value from its investment.
It was reported that AMCON intervened in NatCom Development and Investment Ltd., which acquired the assets of the defunct NITEL and its mobile subsidiary, MTel.
Since then, AMCON has overseen NTEL’s restructuring under its mandate to maximise value from distressed assets before eventual divestment.
Managing Director Mr Soji Maurice-Diya said AMCON commended NTEL’s board and management for repositioning the company through three strategic business pillars.
He identified the pillars as Beam, Eden and Titan, saying they had strengthened connectivity, asset optimisation and telecommunications infrastructure while creating sustainable value for stakeholders.
According to Maurice-Diya, Beam delivers next-generation connectivity and digital solutions, Eden focuses on real estate development, and Titan provides tower infrastructure and colocation services.
“The three business pillars are expanding connectivity, driving innovation and creating sustainable value for customers, investors and other stakeholders,” he said.
Maurice-Diya said the investor search reflected the value created through restructuring and marked the beginning of a structured process to secure a long-term strategic investor.
“The announcement marks the beginning of a structured process to identify a long-term strategic investor capable of supporting the company’s future growth aspirations,” he said.
He stressed that the exercise neither concluded the investment process nor signalled immediate changes to NTEL’s ownership, workforce, operations or service delivery.
Maurice-Diya said NTEL would remain focused on executing its growth strategy, delivering quality services and creating long-term value for customers, partners and stakeholders.
He explained that investor identification, due diligence, negotiations and regulatory approvals were standard stages in strategic investment transactions and would take time to complete.
Maurice-Diya added that NTEL would continue operating under the Nigerian Communications Commission’s regulatory framework throughout the investment process.
He urged stakeholders and the public to rely only on official communications from NTEL and AMCON for verified information, warning against speculation.
“We remain committed to serving customers, supporting partners, delivering value to stakeholders and building on the momentum achieved through our restructuring efforts,” Maurice-Diya said.
