Globacom, Nigeria’s second-largest telecommunications network, may not be able to acquire 9Mobile as widely reported in the media, Nigeria’s burgeoning online integrated media platform, ALEDEH can authoritatively report.

9Mobile, formerly known as Etisalat Nigeria was taken over in July 2017 following N541 billion debt overhang.

Mubadala Group, the major investor from the United Arab Emirates, pulled out of Emerging Markets Telecommunications Service (EMTS), the fourth largest telecommunications service operator in Nigeria as a result of the debt owed to a consortium of thirteen (13) banks.

The United Arab Emirates investor insisted that the brand name is dropped, leading to the birth of 9mobile July 13, 2017.

However, months after the rebranding process of the nation’s second-largest mobile network, the telco is now up for sale, with five bidders making the final list of potential buyers.

The shortlist includes Teleology Holdings Limited, promoted by Adrian Wood, the pioneering CEO of MTN Nigeria; Smile Telecoms Holdings, a telco operating in Nigeria, Tanzania, Uganda, Congo DR and South Africa; and Helios Investment Partners LLP, an investment company.

Others are Bharti Airtel, an Indian telco that owns Airtel Nigeria, and Globacom, the Nigerian company owned by Mike Adenuga Jnr.

Globacom issued a statement January 12, 2018, saying it has not acquired 9mobile. The telco said it is bound by the terms of the acquisition process and it will not deviate from the rules.

Though the company has shown interest in acquiring 9Mobile, ALEDEH can report that Nigeria’s second-largest telecommunications network is far from becoming the latest owner of 9Mobile.

ALEDEH gathered that the telco has some outstanding fees with the Nigerian Communications Commission (NCC).

Globacom has not paid renewal of its spectrum license which is a total of $282 million for another ten (10) years.

Read more: https://aledeh.com/breaking-globacom-in-282m-n1-499b-debts-may-not-buy-9mobile/

ha, wahala dey oo

Clear Way for Smile NG