The interim board of 9mobile may have finally settled for Teleology Holdings Limited as the preferred bidder for 9mobile, the country’s fourth-largest mobile network, according to an insider source.

Teleology Holdings Limited, promoted by Adrian Wood, the pioneer Chief Executive Officer of MTN Nigeria, was one of the shortlisted five investors bidding for 9mobile.

According to the source, which is close to the interim board of 9mobile, Barclays Africa, the financial adviser managing the sales of 9mobile had since submitted its recommendation to the board, which met yesterday to review the recommendation. Prexblog gathered that the board decided to settle with Teleology Holdings Limited, based on the recommendation of the financial adviser.

The preferred bidder is therefore expected to make payment within a given period, to take full possession of the telecoms company.

Although Spectrum Wireless Communication has obtained a court injunction stopping the sale of 9mobile, claiming that it invested over $35 million in the telecoms company, and that the repayment was not factored into the planned sale of 9mobile, the source said the case has been appealed.

According to the source, once a case has been appealed, all parties involved must maintain the status quo. “The status quo, which is the existing state of affairs, means that the sale of 9mobile will continue until the Appeal Court passes its judgment,” the source said.

This development to settle for Teleology Holdings Limited may have brought to an end the acquisition process supervised by Barclays Africa since last year.

Teleology emerged as the new owner of 9mobile ahead of Smile Communications, which had been the only other bidders in the final round of the takeover bid that made financial commitment, out of the shortlisted five.

Though 16 bidders had indicated interest in acquiring the mobile network, only five were shortlisted before the number was further reduced to three.

While Globacom and Helios failed to back their technical bids with concrete financial bids, Airtel later pulled out of the process, leaving just Teleology and Smile Communications.

Teleology, a private equity firm with an investment portfolio of $11bn, offered more than $500 million to acquire the mobile network while Smile Communication offered about $300 million.

SOURCE: https://prexblog.com/teleology-finally-acquires-9mobile-in-over-500-million-deal/

interesting

If this is for real, then the days of vodacom-Econet is here again

Drop the price of data subscriptions. That is all I care about

esorison:
If this is for real, then the days of vodacom-Econet is here again

How? Kindly explain.

Newsprex:
The interim board of 9mobile may have finally settled for Teleology Holdings Limited as the preferred bidder for 9mobile, the country’s fourth-largest mobile network, according to an insider source.

Teleology Holdings Limited, promoted by Adrian Wood, the pioneer Chief Executive Officer of MTN Nigeria, was one of the shortlisted five investors bidding for 9mobile......

Teleology, a private equity firm with an investment portfolio of $11bn, offered more than $500 million to acquire the mobile network while Smile Communication offered about $300 million.

SOURCE: https://prexblog.com/teleology-finally-acquires-9mobile-in-over-500-million-deal/

Wow!! Adrian Wood!! The Capo di tutti Capi himself! He got MTN Nigeria off the ground, when the company started operations in the country. He was the first CEO of MTN Nigeria. He contributed a lot into making MTN the telecoms leader it is today, on our shores. In those days, he and Demola Elesho the pioneer Chief Technical Officer (CTO) for MTN Nigeria were such a great team!

Well.... let us see if Adrian can replicate the magic he did in MTN, in 9Mobile!

All this speculative stories self. What's the point dishing out unconfirmed stories which can be misinformation? Why not get conclusive facts before you publish?

who's the real owner? Nigeria or south Africa

Glo must buy etisalat

EarthXmetahuman:
Glo must buy etisalat

Too late bro

esorison:
If this is for real, then the days of vodacom-Econet is here again

What do you mean by the days of "Vodacom-Econet is here again?

Biko, Make Dem Du Start Another Promo.

Benjaniblinks:
Biko, Make Dem Du Start Another Promo.

That will take a while.