Revealed: Teleology Offered $301m to Win 9mobile Bid

Facts have emerged that Teleology Holdings Limited actually offered to pay $301 million during the bid process for the sale of 9mobile to emerge as the preferred bidder, as against the $500 million that was widely reported.

The public was made to believe that Teleology’s bid price is $500 million and that having paid the $50 million non-refundable deposit, it now has a balance of $450 million to pay, failing which the reserve bidder, Smile Telecoms Holdings, said to have offered a bid price of $300 million will be invited to step-in as the new winner of the bid.

Going by the new revelation, Teleology Holdings Limited, now has a balance of $251 million to pay within 90 days, beginning from March 21, 2018, which was the deadline given it to pay the $50 million non-refundable cash deposit that it had since paid, a day to the deadline.

THISDAY, May 1, 2018

 

 

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