THE Bureau of Public Enterprises (BPE) yesterday terminated the privatisation deal of NITEL with the reserved bidder, Omen Consortium, following the group's inability to meet payment plans, in spite of extensions given to it.
A statement yesterday by the BPE spokesman, Chukwuma Nwoko, also indicated that the agency had not decided on the next step.
The statement reads in parts : "Following the inability of Omen International Consortium, the reserve bidder in the NITEL/Mtel sale transaction, to revalidate its bid bond of $105 million, at the deadline of June 10, 2011, (BPE) has terminated the privatisation of the telecoms utility which began in 2009."
Consequently, the Bureau is exploring various options to consummate the sale of the telecommunications company.
"The BPE considers it apt to clarify various media reports attributed to its Director General, Bolanle Onagoruwa, regarding the various options being considered in addressing the NITEL challenge. The Director General was emphatic in saying that while several options, which included among others, liquidation and negotiated sale, were under consideration, the Federal Government had not yet taken a decision as to which of the options to pursue".
Source: The Guardian.