The preferred bidders who have made the initial 25 per cent payment for the purchase of the unbundled Power Holding Company of Nigeria (PHCN) are yet to pay the 75 per cent balance, which is obligatory before the handover that is scheduled for July ending, because of the pending labour issues, it was learnt yesterday.
According to an insider source at the Bureau of Public Enterprises (BPE), none of them (the investors) had paid the balance of 75 per cent.
The source also explained that even if the investors had paid the balance, the Federal Government would not hand over the entities to them until the labour issues are resolved.
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