It will be a long time before links between Africa and other emerging markets mean much for global investment banks’ profits. Perhaps this view is pessimistic given the announcements last month of two potential deals for billions of dollars involving emerging market firms buying African assets.
Nigeria’s National Council on Privatization said on February 16 that it had received a $2.5 billion bid for 75% of Nigeria’s former telecom monopoly. The bidding consortium, New Generation Telecom, supposedly included China’s second-largest mobile telephone carrier, as well as a group from Dubai, and a Nigerian operator.
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