This study investigated co-opetitive strategy and business models of downstream retail enterprises of telecommunication sector in the south-south region of Nigeria. The specific objectives were to examine the influence of co-opetitive strategy reflected in strategic alliances and collaboration on business models of downstream retail Enterprises of the telecommunication sector in the south-south region of Nigeria. The survey research design was used for the study. The population of the study consisted of 100 retail enterprises in the downstream telecommunication sector, with sample of 80 respondents which were determined using Taro Yamane’s formula for sample determination. Data were collected using questionnaire distributed to 80 respondents out of which 78 copies of the questionnaire were correctly completed and returned in usable form. Data collected were analysed using simple linear regression analysis. Findings indicated that strategic alliances and collaboration as proxies of co-opetitive strategy have significant influences respectively on operational cost, revenue and profit of the retail enterprises of downstream telecommunication sector in the south-south region of Nigeria. Therefore, it was concluded that co-opetitive strategy has positive and significant influence on the business models of downstream retail enterprises in the telecommunication sector in the south-south region of Nigeria. Therefore, it was recommended that the management of downstream retail telecommunication enterprises in the study should sense and enter into strategic alliance and forge collaboration which define co-opetitive strategy to build, configure and reconfigure their business models to strengthen their competitiveness in the industry.