15 June 2011
Nigeria: NITEL, M-TEL Face Liquidation Today --BPE
The Bureau of Public Enterprises (BPE) yesterday disclosed that the nation's first national carrier on communications, Nigeria Telecommunications Plc and its mobile outfit, M-TEL may be liquidated should the reserved bidder the Omen International Consortium fails to pay $105 million security fee by Wednesday (today ).
It would be recalled that President Goodluck Jonathan had directed the preferred bidder of the Nigerian Telecommunications Ltd (NITEL) and its mobile arm, M-TEL, the New Generation Telecommunications Consortium to pay a security bid fee of $750 million.
The fee is a pre-condition for the issuance of an offer letter in its bid to acquire NITEL and M-TEL but after series of excuses, the preferred bidder failed to pay.