LAGOS, Nigeria (AP) — A consortium that won a bid to buy Nigeria's failed state-run telephone company has been given more time to pay a required $750 million down payment, the most recent of numerous setbacks to privatize the company since 2001.
Usman Gumi, managing director of local company and consortium member GiCell, said Thursday that the government gave the New Generation Telecommunications Consortium until Dec. 23 to put together the down payment.
The group has bid a total of $2.5 billion to purchase Nigerian Telecommunications Ltd., known locally as Nitel.
The consortium missed an earlier deadline on Nov. 5 fixed by Nigeria's Bureau of Public Enterprises, the …
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