9Mobile Finally Sold to New Owners Teleology Holdings for $500Million
January 30, 2018
Towards the end of 2017, there was a lot of speculations as regards to the sale of the second largest Telco Network in Nigeria 9Mobile. Around October 2017, the Company’s name was changed from Etisalat to 9Mobile after the Abu-Dhabi Company couldn’t settle debts which the Nigerian Government and some banks took over the Telco Company.
Rumours revealed some weeks ago that Globacom Nigeria has acquired the Telecommunication giant which the Nigeria Commission and the Director of Globacom Nigeria denied the news disclosed to the general public. During the whole process of bidding, the Dangote Telco group, Airtel group, and Globacom were all kicked out which Smile Telecom was close but Teleology Holdings emerged as the owners of 9Mobile. Very soon we should see a new name.
So what do we expect to see? what advancements and added benefits do we expect as well. Teleology is managed by the former CEO of MTN Nigeria and has recorded a lot of success stories. It is believed that Teleology had a higher bid of about $500Million while Smile 4G offered $300Million.
Although no official announcement has been made as regards to this development, it is expected the Nigeria Communications Commission make an announcement before the end of this week along with the price it was acquired for.
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