The reserve bidder for Nigeria Telecommunications Ltd (NITEL) may lose out on the opportunity to acquire the state-owned company if its revalidation is not done by Friday. It comes as part of an agreement between the bidder and the government that it would resubmit its bid bond within two weeks after President Goodluck Johnson entered office. Failure on the part of Omen by the end of the week to revalidate the bid will technically end the current transaction, which began in September 2009, and could allow for BPE to start again on a new privatization process for the national telecom firms. Bola Onagoruwa, director-general of BPE, in comments with BusinessDay alluded to this idea. Omen had, through a letter dated March 29, requested for an extension of revalidation of its bid for NITEL until after the May 29 inauguration of President Goodluck Jonathan. Omen ended up as the reserve bidder at the February 2010 financial bid, having offered $956.9 million to acquire the telecom firms. The revalidation offer from BPE expired on March 30. BM