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Buyer yet to emerge as deadline for sale of 9mobile ends
The deadline for the sale of 9Mobile, formerly Etisalat Nigeria, lapsed yesterday without the process producing a major buyer.
The Guardian learnt that the five bidders left in the race, Globacom, Airtel, Helios, Teleology and Smile Communications, would have to wait for another two weeks to know which of them will take over the assets and liabilities of the 9Mobile.
The sale of 9Mobile was one of the major anticipated deals in the telecommunications sector in 2017.
Government regulators who averted the forceful takeover of the telecommunications firm by a consortium of lending banks promised that the deal would be closed yesterday and that a major investor would emerge.
Sources informed The Guardian that the appointed financial advisor, Barclays Africa, requested for an extension of the deadline to resolve some thorny issues.
The Guardian, January 1, 2018
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