Breaking News
Translate

BPE directs company to re-validate reserve bidder status on NITEL

 Abuja -The Bureau of Public Enterprises, BPE, has directed Omen International Limited to re-validate its reserve bidder status for the privatisation of Nigerian Telecommunications Plc and its mobile subsidiary, M-tel.

The directive is contained in a statement issued by Mr Chukwuma Nwoko, BPE spokesman in Abuja.

“If your bid is re-validated, it would give the Federal Government the right to invite your consortium or enter into negotiations to take up the offer,’’ it said.

Omen International Consortium emerged the reserved bidder at the financial bids ceremony for NITEL/M-tel held on Feb. 16, 2010 with an offer price of 956 million dollars.

According to the statement, the BPE has also written to New Generation Consortium that its position as the preferred bidder for the privatisation of NITEL has lapsed.

It said the decision of the BPE was premised on the consortium’s inability to pay the 30 per cent bid security.

The statement said BPE on Oct. 18, 2010 reminded New Generation consortium to pay the 30 per cent bid security of 750 million dollars within 10 calendar days of receiving notification of the approval of the National Council on Privatisation.

“The consortium was given an extension which expired on Dec. 21, 2010,’’ the statement said.


Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.