Business
NITEL/MTEL: Preferred Bidder Makes Part Payment Of N12.7bn
The Bureau of Public En
terprises (BPE) said that the preferred bidder at the recently held liquidation of NITEL/MTEL had paid $75.7 million (N12.7 billion) as part payment of its $252.5 million bid price.
This is contained in a statement by BPE’s Head, Public Communications, Mr Chigbo Aniechebe, in Abuja.
According to the statement, the payment made by NATCOM Consortium, the preferred bidder of NITEL/MTEL, is 30 per cent of the bid price and was in line with the guided liquidation process of the transaction.
“This is in line with the offer letter by the Bureau of Public Enterprises (BPE) to the preferred bidder which mandates NATCOM to make an initial deposit of 30 per cent of the bid price not later than 14 days on receipt of the offer letter.
“With the payment of the 30 per cent, NATCOM is expected to pay the balance of 70 per cent of the bid price within 90 days.
“ It is therefore imperative to inform creditors that disbursements to them will be considered only after full payment has been received,” it stated
It would be recalled that the National Council on Privatisation (NCP), at its meeting of February 27, 2012, approved the privatisation of NITEL/MTEL through “guided liquidation”.
The strategy was adopted by the NCP in the light of the previous failed attempts to privatise NITEL/MTEL and the huge liabilities of creditors to the tune of over N300 billion.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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