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  • Add You - Nigerian Corporation Transcorp Explains Relationship With British Telecom

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    But, the Head of Corporate Affairs, Transcorp, Mr. Ad

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    Transnational Corporation, on Tuesday, said that British Telecom had not pulled out of the technical services agreement between the two companies for the management of NITEL and its mobile subsidiary, Mtel.

    Transcorp acquired a 51 per cent stake in NITEL last year under the privatisation exercise handled by the Bureau of Public Enterprises.

    However, there were reports that BT had pulled out, citing unavailability of working capital to turn around the telecoms firms and the lack of adherence to corporate governance principles.

    But, the Head of Corporate Affairs, Transcorp, Mr. Ade

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    between the two companies for the management of NITEL and its mobile subsidiary, Mtel.

    Transcorp acquired a 51 per cent stake in NITEL last year under the privatisation exercise handled by the Bureau of Public Enterprises.

    However, there were reports that BT had pulled out, citing unavailability of working capital to turn around the telecoms firms and the lack of adherence to corporate governance principles.

    But, the Head of Corporate Affairs, Transcorp, Mr. Ad

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    cent stake in NITEL last year under the privatisation exercise handled by the Bureau of Public Enterprises.

    However, there were reports that BT had pulled out, citing unavailability of working capital to turn around the telecoms firms and the lack of adherence to corporate governance principles.

    But, the Head of Corporate Affairs, Transcorp, Mr. Ad

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    , there were reports that BT had pulled out, citing unavailability of working capital to turn around the telecoms firms and the lack of adherence to corporate governance principles.

    But, the Head of Corporate Affairs, Transcorp, Mr. Ad

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    nd the lack of adherence to corporate governance principles.

    But, the Head of Corporate Affairs, Transcorp, Mr. Adedayo Ojo, said in a statement in Lagos on Tuesday, that it was the first phase of the agreement with BT that had been concluded.

    He said that BT representative and Managing Director of Mtel, Mr. John Weir, had not been relieved of his post by the Board of Mtel.

    He said, “That stage basically covered the diagnostics and evaluation of the state of affairs in NITEL and Mtel.

    “However, both BT and Transcorp are still in negotiations regarding a longer term agreemen

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