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Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable - Phones - Nairaland

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Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by ijustdey: 5:32pm On Dec 31, 2017
By Malik Abdulganiy


Globacom desperately wants to acquire 9mobile — but it would take a miracle for the nation’s second largest mobile network to get its wish, those with inside knowledge of the goings-on have told TheCable.

The company formerly known as Etisalat Nigeria was taken over in July 2017 following a N541 billion debt overhang.

Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator as a result of the debt owed to a consortium of 13 banks, and insisted that the brand name be dropped, leading to the birth of 9mobile.

The telco is now up for sale, with five bidders making the final list of potential buyers: Teleology Holdings Limited, promoted by Adrian Wood, the pioneer 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.

Of the lot, Globacom has done the most extensive media campaign — albeit unofficially — with the hope of swaying the deal its way.

An Glo insider told TheCable that the driving force for Adenuga’s pursuit is to claim the bragging rights of the largest telecom company in Nigeria.

Glo is currently the second largest operator in Nigeria with 37 million voice and 26.8 million internet subscribers, according to the October 2017 statistics from the Nigerian Communications Commission (NCC), the industry regulator.

If it acquires 9mobile, it will automatically become the biggest network in Nigeria by adding 17 million to voice and 11.5 million to internet subscription base.

Combined, the new entity’s 54 million voice lines and 38.3 million internet subscriptions will surpass MTN Nigeria’s 50.7 million and 32.5 million respectively.

“This, in sum, is why Adenuga wants 9mobile badly, despite the serious challenges Glo itself is facing in its business model,” the source said.

Glo would move from its 26.4% share of the market to 38.5%, including the benefit of recording more subscribers porting to its network.

Adenuga’s company currently has the lowest number of gains from porting — an average of less than 1,000 per month — while 9mobile recorded a monthly average of 12,000 porting subscribers in 2017, industry’s highest by a distance.


WRONG NUMBER

Although the transaction is being handled by Barclays Africa, an arm of the Barclays Group, the telecom regulator, NCC, and the banking watchdog, Central Bank of Nigeria (CBN), are expected to play a key role in the final decision.

NCC controls 9mobile’s operating licence while CBN regulates the banks. Both intervened to save 9mobile when it was going down.

The involvement of CBN and NCC, which had previously complained about “lack of transparency” by Barclays in the transaction, is not likely to do Adenuga any favours.

And for good reasons, some will argue.
Glo is the second national operator (SNO), licensed to provide national backbone for other networks as well as roll out landlines across the country.

“Since Adenuga got the SNO licence in 2003, he has not yet fulfilled the conditions of the licence. This is 14 years and counting,” a senior government official told TheCable on the condition that he would not be named.

“By now, it should have rolled out landlines nationwide and provided broadband access to millions of homes. The huge benefits to the economy have been lost over time. The notion that Globacom can get such an important licence and refuse to fulfill the conditions is unacceptable.”

Globacom was recently kicked out of the Republic of Benin after failing to meet conditions for the renewal of its licence, despite the fact that it took years for the company to roll out its service as a result of regulatory requirements.

The telecom company’s services in Ghana are also not well rated.

“It is public knowledge that 9mobile is in dire need of real financial injection because of the debts, as well as a strong governance culture in view of its recent history,” the official said.

“Glo is not the most financially buoyant to revive 9mobile, neither does it have the best-practice governance culture that 9mobile requires. Adenuga runs Glo like a kiosk or corner shop, and this cannot help the situation of 9mobile.”

However, Globacom remains confident that it would win the bid.

“Dr Mike Adenuga Jnr is never tired of pushing for improvement. Globacom boasts of arguably the most inspired and most passionate workforce in the industry.

We have the edge,” an insider told TheCable, refusing to be named because of internal rules.

In a matter of days, though, the final picture will put the questions and permutations to rest.


https://www.thecable.ng/why-globacom-badly-wants-9mobile-and-why-it-may-not-get-it

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Degis(m): 5:38pm On Dec 31, 2017
Please don't sell anything of value to that man!. He is patently autocratic and has poor corporate governance history. He can't meet the conditions of sale

56 Likes 1 Share

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by OhGeeBee: 5:44pm On Dec 31, 2017
Who told you if glo acquired 9mobile it will become Nigeria's largest network??
Don't fool yourself the moment glo acquire 9mobile their subscribers will port to MTN because MTN won't just sit down they'll come up with good and better strategies while glo keep slowing down 9mobile.


Glo isn't reliable Big shows and concert is their brilliant aspect.

80 Likes 2 Shares

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by yanshDoctor: 5:51pm On Dec 31, 2017
is this why glo is deducting money from all subscribers phone line?

18 Likes 1 Share

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by BiafraBushBoy(m): 6:19pm On Dec 31, 2017
Glo should just become a record label.

63 Likes 3 Shares

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Tocheagle(m): 6:20pm On Dec 31, 2017
Sell the network to me, I will make a better owner. Let me sign up for it

8 Likes

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by seunlayi(m): 6:45pm On Dec 31, 2017
Seriously, I want them to get it and. I am sure they will.

Cheapest Internet, more 4g band, best tariff, stable Internet, genuine data packages, etc

27 Likes 5 Shares

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Samogbo1(m): 6:45pm On Dec 31, 2017
H

2 Likes

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by festwiz(m): 6:45pm On Dec 31, 2017
I want Smile to get it. This will enable them widen their coverage in Nigeria.

16 Likes 1 Share

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Heywhizzy(m): 6:46pm On Dec 31, 2017
Nawa o.. After hijacking all the Nigerian celebrities, they now want to hijack 9mobile


Anyways I pray they get it, maybe it would help improve their network service
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by datola: 6:46pm On Dec 31, 2017
Glo
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Nobody: 6:47pm On Dec 31, 2017
grin

16 Likes

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by MinorityTribe: 6:47pm On Dec 31, 2017
They should just sell it to Dagote, Nigeria should be sold to Dagote.

7 Likes 1 Share

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by pointstores(m): 6:47pm On Dec 31, 2017
No sense
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Beehshorp(m): 6:47pm On Dec 31, 2017
The only thing Glo knows how to do is to sign celebrities and make them ambassadors

22 Likes 1 Share

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Nobody: 6:48pm On Dec 31, 2017
grin
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by uboma(m): 6:49pm On Dec 31, 2017
Glo may eventually win the bid to acquire 9mobile....
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by emeijeh(m): 6:50pm On Dec 31, 2017
If this report will not put fuel in our generators and cars, then.....

E no consæn me.




Happy new year Nairalanders!

1 Like

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by slawomir: 6:51pm On Dec 31, 2017
gurunlocker:
GLO... The only network where signal can go for about 3 days, the only service whereby if you on your data connection you will have to wait for 5 minutes before browsing.

The only network where there will be signal in your toilet, corner of your room and beside kitchen cabinet only..

Always have pity for them...
na man you be
their network dey useless for Benin City
they will be deducting money anyhow

glo internet speed is slower than injured snail
you might give your life to Christ before you finish downloading a porn movie with glo

the only place manageable in Benin City for glo is inside uniben and its surroundings like osasogie, edpa and ekosodin

27 Likes 2 Shares

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by mexxmoney: 6:51pm On Dec 31, 2017
Make dem no try am o. I no wan join glo users for their Lamentations

6 Likes 1 Share

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by gurunlocker: 6:51pm On Dec 31, 2017
GLO... The only network where signal can go for about 3 days, the only service whereby if you on your data connection you will have to wait for 5 minutes before browsing.

The only network where there will be signal in your toilet, corner of your room and beside kitchen cabinet only..

Always have pity for them...

33 Likes 1 Share

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by OboOlora(f): 6:52pm On Dec 31, 2017
AMCON should send him the requirement for acquisition via email today, he will probably see it on Easter Monday due to his erratic network!

11 Likes

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by churchee: 6:52pm On Dec 31, 2017
Which network is Glo please?
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by dreamworld: 6:54pm On Dec 31, 2017
cheesy
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by BORNTOSUCKPUSSY: 6:54pm On Dec 31, 2017
angry make dem no sell am give that man ooo glo suppose be record label

1 Like

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by kolawoleibukun: 6:55pm On Dec 31, 2017
global com day day yeye
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Wealthyman01: 6:56pm On Dec 31, 2017
Glo, the best data network. I pray they get it.

1 Like 2 Shares

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by olamil34(m): 6:56pm On Dec 31, 2017
Get the best prices from different stores on quickfinda.com
Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by hedonistical: 6:57pm On Dec 31, 2017
Nope. We don't want Adenuga's greasy, incompetent hands on 9mobile abeg. Globacom is one of the worst managed companies in Nigeria. It's even over-valued in my opinion...

If not for Adenuga's bottomless pit of money courtesy of his cash cow (the lucrative Conoil OMLs), Globacom would have since gone under.

Woeful company woeful corporate governance, woeful management woeful network.

9 Likes

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by mccoy47(m): 6:57pm On Dec 31, 2017
I'd like glo to win for the sole fact it's a Nigerian brand!

4 Likes 1 Share

Re: Why Globacom Badly Wants 9mobile; But May Not Get It - The Cable by Vince77(m): 6:59pm On Dec 31, 2017
MinorityTribe:
They should just sell it to Dagote, Nigeria should be sold to Dagote.
grin grin grin

2 Likes

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