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Teleology confirmed successful bidder for 9mobile

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Chief Executive Officer (CEO) of 9mobile, Boye Olusanya, has now confirmed reports that the telecommunications company, formerly known as Etisalat Nigeria, will be sold to Teleology Holdings.

According to Olusanya, Teleology Holdings emerged the best bidder in the sale process, while Smile Telecoms Holdings stands as reserved bidder if Teleology reneges on its bid for the company.

In a communication with members of staff, Olusanya said its lenders would now engage Teleology to finalise negotiations on the sale of the company.

Read also: Dogara advocates low interest rates to grow Nigeria’s economy

“In line with my previous communications on the bid process, discussions and negotiations have put the board in a position to name Teleology Holdings as the preferred bidder for our company,” Olusanya said via a memo.

“The lenders will now engage Teleology Holdings to conclude other aspects of the negotiation and I will continue to provide updates as and when the milestone occur.”

 

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