Nigeria In One Minute

9Mobile Acquisition: All Eyes on Teleology as Deadline Looms

With less than a month to the 90 days window given to Teleology Holdings Limited to pay the balance of $251 million to acquire 9mobile, industry watchers are observing with keen interest, how the deal would go.

Precisely, the deadline for the preferred bidder for 9mobile to make its final payment expires on July 25.
Barclays Africa, the financial adviser managing the sales of 9mobile had on February 21, 2018, announced Teleology Holdings Limited, promoted by Adrian Wood, the pioneer Chief Executive Officer of MTN Nigeria, as the preferred bidder for the ailing telco and Smile Telecoms Holding was the reserve bidder.

However, telecom operators under the aegis of the Association of Licenced Telecommunications Operators of Nigeria (ALTON) were optimistic that Teleology would beat the deadline.

THISDAY, June 26, 2018

 

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