Nigeria will have to wait until after the county’s upcoming vote before a company offering $956.9 million for the country’s lowly state-run telecom company revalidates its bid.
Managing Director of Omen International Ltd. Mike Nwachukwu said on Wednesday that company investors are concerned over the upcoming elections and have delayed the final purchase on the company known as Nitel.
Nigeria’s Bureau of Public Enterprises had given Omen until March 30 to revalidate its bid, but Nwachukwu says the body has not reacted to Omen’s extension request made ahead of the deadline. A spokesman of the body declined comment.
The last of a series of crucial elections is to be held on April 26 after suffering postponements. Nigeria has been trying to sell Nitel for over a decade and Omen is the second bidder to be offered the chance to purchase the state-owned operator.
By Staff
