The preferred bidder for 9mobile Limited is Teleology Holdings Limited (THL), which had paid the $50 million refundable deposit for its acquisition. It has 90 days to pay the $450 million balance to seal the deal, and thereafter, 9mobile will be completely and conclusively handed over to THL. Nigerian Communications Commission (NCC) Executive Vice Chairman Prof. Garba Umar Danbatta said yesterday.

However, Danbatta said if Teleology failed to make the complete payment within 90 days, Smile Communications Limited (SCL), the reserved bidder, might take its place.

Many firms bidded for the acquisition of the financially distressed telecom firm.Globacom, Airtel, Smile Communications, Helios, and Teleology emerged as bidders for 9mobile out of 16 firms, which filed bids with Barclays of Africa, 9mobile’s financial adviser.

Others firms that bidded include MTN, ntel, Virgin Mobile from the United Kingdom and Vodacom of South Africa, BUA Group, Morning Side Capital Partners, Obot Etiebet & Co, Blackstone Private Equity, and Hamilton and George International Limited.

Whilst Glo failed to attach financial commitment to its bid,Airtel merely pulled out.

https://www.financialdigest.com.ng

Which way na 9mobile Una want confuse us ooo