Transnational Corporation Plc, the majority stake owner in Nigerian Telecommunication Limited (NITEL), has reiterated its position that SAT 3, a NITEL asset, is not for sale.

After a great deal was invested into SAT 3 in order for it to function properly, a plan to revive the company does not involve SAT 3's sale, said Adedayo Ojo, head of corporate communications at Transcorp, in a telephone interview.

Ojo's statements come with a recent restructuring - involving the sacking of NITEL Chairman of the Board Ferdinand Alabraba - that led to speculation on the future of SAT 3.

Regarding the restructuring, Ojo noted that the majority of NITEL's staff is happy with Transcorp's bid to restore the ailing telecom to a profitable position.

“It is right for a new set of management to come on board to truly revive the company," said one employee. "We are highly excited."

Ojo expressed confidence that NITEL employees are in the right frame of mind, an indication that the restructuring will not lead to strikes.

Employees have also expressed their satisfaction with rehabilitation work in the Federal Capital Territory, Enugu, Benin and Port Harcourt, which has resulted in active lines working in Abuja.

“This is an indication that Transcorp is very serious with its investments,” Ojo said.

He went on to commend the employees of NITEL for accepting the transformation programs without rancor.

The IDG News Service is a Network World affiliate.