Teleology Holding Officially Acquires 9mobile

Teleology, which emerged the preferred bidder for the
9mobile transaction on February 21, has beaten the deadline stipulated under
the bid process for the acquisition of 9mobile by paying a $50 million
non-refundable deposit for Nigeria’s fourth largest network operator.

If they had failed to meet up with the deadline, Barclays
Africa, the transaction adviser, would have invited the reserve bidder, SmileTelecoms Holdings, to takeover 9mobile.
However, Teleology Holding is expected to pay the balance of its
$500 million bid for 9mobile in the next 90 days, in order to take full
possession of the telecoms firm.
According to what this day reported, all contractual documents
for the 9mobile transaction had been executed by all the parties.
“We have 12 executives coming in and they comprise five of
my former colleagues at MTN such as the ex-CTO and ex-CFO. Others include
executives from Orange, Vodafone, Celtel and others.”
“9mobile is transiting into a new phase that will be defined
by optimal value delivery:  value to our employees, value to our
customers, value to local communities and indeed to all stakeholders.”
Another distinguishing feature is that Teleology
has formed an alliance with Safaricom, the biggest mobile operator in East
Africa.
What we don’t know yet is if 9mobile will be undergoing another
rebranding or Adrian Wood and his team will maintain the name 9mobile. Smile
Telecom Holding will be like… “is this for real?”.
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20 thoughts on “Teleology Holding Officially Acquires 9mobile

  1. Too bad smile couldn't get what they wanted. Let's hope dis Teology would cook something good for us on 9mobile. By the way, dat 500 million dollars does it include d debt dat dey are owing or just for takeover?

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