Nigeria In One Minute
Glo, Airtel, Dangote, Seven Others Advance to Final Stage in 9mobile Bid
The scramble to acquire 9mobile, Nigeria’s fourth largest network operator, has advanced to the next stage, with 10 out of the 16 firms that submitted expressions of interest (EoIs) for the telecoms firm, prequalified by Barclays – the financial adviser to the deal – to proceed to the financial bid stage of the exercise.
Sources conversant with the deal informed THISDAY that the 10 firms, having passed the technical evaluation bid stage, have been prequalified to submit their financial bids for the acquisition of 9mobile.
As part of the financial bid process, the companies will also be required to submit bid bonds of $150 million each as evidence of their capacity to pay for the acquisition of 9mobile.
THISDAY, November 20, 2017
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