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9mobile Up For Sale, Five Bidders Have Emerged.

Looks like 9mobile are going to be getting a new owner soon, from the turn out of events so far, it seems the teleology holdings limited might be the new owners after offering over $500 million ad their bid. The news just got to us that a total of five bidders have emerged to purchase the troubled telco, 9mobile.  Telecom company has given 30days period to Smile and Teleology to prove – they have financial resource to take over 9mobile.

The five entities, are Airtel, Globacom, Smile Communications, Helios, and Teleology Holdings Limited. Earlier, no less than 16 firms expressed interest and filed bids with Barclays, 9mobile’s financial advisor. They include MTN, Airtel, Ntel (former NITEL), Virgin Mobile from the United Kingdom and Vodacom of South Africa. The rest include BUA Group, Morning Side Capital Partners, Obot Etiebet & Co, Blackstone Private Equity, and Hamilton and George International Limited.

Danbatta said: “Five bidders have emerged for 9Mobile. They have been allowed to access the data room of 9Mobile in order to enable them access the financial situation of the company and subsequently make bids for the takeover of the company. But the takeover must be in a regulated manner. “The CBN and NCC are supervising what is going on through an interim board jointly appointed by the NCC and CBN. We are going to do due diligence on the financial capacity of any potential bidder as well as the technical capacity.

About Michael Iyeyi

Michael Iyeyi, CEO of Alphatekng.com is a humble tech enthusiast, a blogger, and a music freak with passion to impact lives positively.

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