Yesterday was an awful day for indigenes and residents of…
Teleleology Holdings has emerged as the preferred bidder for Nigeria’s troubled telecom operator 9mobile (formerly Etisalat). This piece of information was confirmed from sources within Teleleology after receiving a letter from Barclays Africa, the Financial Adviser to the Nigerian Communications Commission (NCC) on the sale of 9mobile.
Barclay’s letter requires Teleleology to make a non-refundable deposit of $50 million within 21 days of receiving the letter dated 21st February, 2018 or risk losing the bid to the reserve bidder, Smile Holdings Limited.
Teleleology is reported to have made a $500 million bid, while Smile’s bid is believed to be $300 million.
The impending entry of Teleleology is a triumphant return for MTN Nigeria’s former CEO, Adrian Wood, who is the chairman of the new entrant into the Nigerian telecom market. A number of his old colleagues and associates at MTN like Michael Ikpoki and Demola Elesho are believed to be part of his team.
Their combined experience is likely to ensure they complete the takeover of 9mobile but in Nigeria’s highly complex and competitive business and political environment, anything can still happen.