Smile Holdings Raises Concern over Sale of 9mobile, Calls for Review

The reserve bidder in the sale of 9mobile, Smile Telecoms Holdings, has raised concern over some perceived anomalies in the handling of the sale of 9mobile by Barclays Africa, and has called for a review of the entire bid process.

Barclays Africa, the financial adviser handling the sale of 9mobile had penultimate week, declared Teleology Holdings as the preferred bidder for the sale of 9mobile, and had transmitted an official letter to Teleology Holdings, informing it of its emergence as the preferred bidder.

Disturbed by the letter from Barclays Africa to Teleology Holdings, coupled with the manner in which the bid exercise was carried out, Smile Telecoms Holdings wrote a protest letter to Barclays Africa, expressing its dissatisfaction in the entire bid process that produced Teleology Holdings as the preferred bidder.

Barclays Africa, THISDAY gathered, replied Smile’s protest letter on February 26, 2018, and promised to “be in touch with Smile to discuss any updates on the transaction, to the extent considered necessary.”

THISDAY, March 6, 2018

 

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