Following a stringent bidding process, New Generations Telecommunications consortium emerged as the winners of a 75% stake in Nigeria's former government-owned telecommunications company, NITEL.

Vanguard newspaper reports the consortium, that includes China Unicom Limited, Minerva Group of Dubai and local company GiCell Wireless Limited, emerged as winners with a bid of $2.5 billion.

Chigbo Anichebe, the Bureau of Public Enterprises' head of public communications, revealed that Omen International bid $956 million for the entire NITEL while Brymedia consortium and AFZI/Spectrum consortium offered $551 million and $375.5 million respectively. MTN Nigeria was prepared to pay $25 million for SAT-3 only.

The winning bid is still subject to final approval by the National Council on Privatisation, headed by the Acting President, Goodluck Jonathan.