Monday, January 29, 2018

Finally, Teleology Holdings are the New Owners of 9Mobile

   
   
9Mobile now has a new owner are about 16 firms indicated interest in buying the mobile network. Bidding war started since last year and when it was reduced to just 5, rumors spread that Globacom will eventually come out as winners but the whole scenario took another twist towards the very end.

In the final days, it reduced to just 3 bidders, Dangote Group Telecom unit, Bharti Airtel and others were kicked out in the fourth round, Glo was surprisingly eliminated in the third round but Smile Telecom Holding emerged as runners up after Teleology Holding won the bid to acquire 9mobile.

Meanwhile, Bharti Airtel were afraid of the big debts hanging in the neck of 9Mobile so they feared that whoever acquires the network may be trapped by that so they pulled out.

Teleology Holdings is managed by Adrian Wood, the former CEO of MTN Nigeria.

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

It's reported that a staff of 9mobile who spoke on condition of anonymity, “this news is like a double whopper burger for us. I can tell you there is an air of jubilation amongst the staff of 9mobile now. We did not want any of the existing operators to acquire 9mobile as they would end up sacking people and throwing people into the unemployment market under the guise of right sizing the business.”

Meanwhile, the Nigerian Communications Commission (NCC) is yet to make official announcement in about the new owners of 9Mobile. We hope that will happen any time soon.
Source: ThisDayLive.
   
   
       
   
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3 comments:

  1. Wow my wished sure came to pass,i can remember vividly the comments I made the other day, finally it came to pass, I was wishing that the said Teology holding should win the whole thing, fortunately, yes they won it... They can now wear the cap, although when I checked the level of thier grade the last time, I discovered that smile holding had upper hand above the Teology, that I thought will not make them win, but to my greatest surprise,teology won.

    Based on the report on ground, Adrian wood of the said Teology holding. Previously served as a C.E.O in 'emptyhen' I beg your pardon MTN,so with his previous position and qualifications and experience so far, we hope to see him do better than when he was with MTN, Mr Adrian please manage the company well so that the company will be of great benefits to not just you, but me, wizytechs,and everyone in general.
    Thanks for reading,
    Have a productive day friends.

    ReplyDelete
  2. Hmmm..interesting outcome, I’m glad the regulators were not bullied into submission in the earlier rounds of the bid..I’m eager to see how things improve for 9mobile bcos for now their data speeds have dropped greatly in my area..

    ReplyDelete
  3. I’m glad for Teleology, I hope 9mobile data speeds improve in my area bcos it’s been poor over the last few months

    ReplyDelete

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