After months of wrangling between bidders, the Nigerian government has decided to cancel the sale of its state-owned telecommunications company, Nigerian Telecommunications (Nitel). The move comes as Omen International Consortium failed to pay a $105 million down payment on Wednesday.
A spokesperson for the Bureau of Public Enterprises Chukwuma Nwokoh said they had asked Omen to make the payment by June 10, and later extended the deadline until Wednesday, but the consortium failed to make payment.According to Forbes, it had offered Nitel to Omen after a first company that had bid $2.5 billion also missed a down payment deadline.
Author: Chief Editor
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