9mobile Sale: No room financially, technically deficient coys – NCC

Adeleke Adewolu

The NCC has insisted that there is no going back on the handover of 9Mobile to the preferred bidder, adding that technically and financially unstable company stand no chance.

This was made known by the Executive Vice Chairman of NCC at the 82nd edition of Telecoms Consumers Parliament in Abuja recently.

Dambatta confirms that five bidders have expressed interest in taking over 9mobile, noting that they have been allowed to access the data room of 9mobile in order to have a firsthand information on the financial situation of the company.

Sources confirm that Globacom Limited, Bharti Airtel, Smile Telecoms Holdings, Helios Investment Partners LLP, Teleology Holdings Limited have been shortlisted as the five bidders to buy 9mobile, Nigeria’s fourth largest telecommunications provider.

It will be recalled that following failed negotiation with its lenders over a missed payment of $1.2b loan taken from a consortium of 13 banks in 2013, 9mobile, which used to be known as Etisalat, rebranded after its owners in Abu Dhabi pulled out and a new board was inaugurated to take charge.

Speaking on what Nigerians should expect in the days ahead, Danbatta says seamless takeover of 9mobile. He assures that whoever takes over the company will give the company a facelift.

His words: “As you are aware, five bidders have emerged as I am talking to you and they have been allowed to access the data room of 9mobile in order for them to get access to the financial situation of the company

and subsequently make bid for the takeover of the company. We will ensure that the takeover is done in a regulated manner, not a forceful manner.’’

He added: “That is why the CBN and the NCC are supervising what is going on through the interim board that was jointly set up by the NCC and other partners.’’

Ladesope Ladelokun

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