Prospective investors pay $25,000 to bid for NITEL

14 prospective investors in NITEL have paid the application fee of $25,000 for the opportunity to participate in the bidding process. NEXT reports that The Nigerian Bureau of Public Enterprises says investors who do not pay the non-refundable application fee of $25,000 will automatically be disqualified.
Spokesperson for the bureau, Chigbo Anichebe,noted: “Some investors would automatically disqualify themselves if they don’t pay their $25,000 non-refundable application fees,” adding that those who have paid have been granted access into the data room.
The nine investors that have paid the $25,000 are: Etisalat Nigeria (EMTS); Omen International Limited (BVI); MTI Consortium; Finetek.Com/Ericsson Consortium; Globacom Ltd; MTN Nigeria Communications Limited; Telefonica Consortium; Brymedia (W.A) Limited; and Conau Limited.
Mr. Anichebe said: “These nine investors are enough to go on with the bidding process of NITEL, since they all have the minimum evaluation, as the BPE would not extend the deadline again. The nine investors have shown strong indications. Usually, three investors are enough, which is the international standard. So, I am doubtful that we will extend the date again,” he added.
Yet to pay
Prospective core investors that are yet to pay their application fees are: Summit Group; MTNL Limited, India; Anas Network Services Limited; Metro PCS Communications Inc. and Galaxy Backbone Plc.
In addition to Globacom, MTN Nigeria, and Etisalat, the bureau’s spokesperson said others bidding for NITEL, like the Telefonica Consortium, also include some Nigerian investors, who are partnering with some foreign firms.
NITEL’s assets have been split into six parts, namely: SAT-3; domestic fixed line telephony; national fibre-optic transmission backbone; CDMA network; MTEL (GSM); and Analog System (TACS) to ease the bidding process.