A shocking $2.5 billion bid by
New Generations
Telecommunications
Consortium (formerly
Telefonica) threw
competitors off balance to
clinch the preferred bidder
slot at the financial bid
opening for the acquisition of
75 percent of the moribund
national telecom carrier,
Nigeria Telecommunication
ltd and its mobile arm, MTel.
With this
development, the preferred
bidder now has to pay $750
million within 10 days from
the date of National Council
on Privatization NCP
approval while the balance is
expected within 60 calendar
days of the council#s
approval.
New Generation was trailed
by Omen International Ltd
with about $957 million.
Others are Brymedia
Consortiium $551 million,
AFZ/Spectrum consortium $
375.5 million and MTN which
bidded for only the SAT-3
offered $25 million.

i listened to it live yesterday.Hope this process works out this time.Don't you think MTN was too stingy on their bid.Everybody knows how much sat 3 cost us so while 25m dollar.