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Nairaland Forum / Science/Technology / Phones / TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. (17871 Views)
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TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by postbox: 6:22am On Mar 23, 2018 |
Teleology Holdings has agreed to buy 9mobile, Nigeria’s fourth largest telecoms provider, the investment firm said on Thursday. 9mobile, formerly Etisalat Nigeria, took out a $1.2 billion syndicated loan from 13 local banks in 2013 but failed to make repayments last year. Under the stewardship of its lenders, it has changed its board, management and name and is now up for sale. Teleology said it had made a $50 million deposit to meet conditions for the acquisition and had partnered with East Africa’s largest telecoms operator Safaricom to transform debt-laden 9mobile. Teleology was set up by 12 telecoms industry veterans led by ex-MTN Nigeria executive Adrian Wood. Barclays Africa picked Teleology as the preferred bidder for debt-laden 9mobile last month and asked the company to pay a non-refundable deposit of $50 million by March. Teleology said it transferred the deposit to the trustee holding 9mobile shares on behalf of the lenders. Teleology said it had been in meetings in the last few days with executives of the organisation, lenders, regulators and Barclays Africa, on the acquisition. The acquisition comes at a time of increased competition in Nigeria’s telecoms sector, Teleology said, adding that it plans to double 9mobile’s network and drive rural internet coverage. Since the debt issue, 9mobile has lost subscribers. In October it had 17.1 million users, a 12.2 percent market share, which was down from 20 million subscribers, or 14 percent share earlier in 2017, the telecoms regulator said. Reuters – (Reporting by Chijioke Ohuocha; editing by Jason Neely and Pritha Sarkar) SOURCE : https://brandspurng.com/teleology-holdings-has-agreed-to-buy-9mobile-nigerias-4th-largest-telecoms-provider/ 2 Likes 1 Share
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Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Mrphylor09: 6:59am On Mar 23, 2018 |
ok |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Jaybeee(m): 6:59am On Mar 23, 2018 |
G |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by soloehis(m): 6:59am On Mar 23, 2018 |
ok |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by LibertyRep: 6:59am On Mar 23, 2018 |
I'd still have love Glo to acquire 9mobile. Or any other indigenous business man 8 Likes 1 Share |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by babatee1985(m): 6:59am On Mar 23, 2018 |
Good development |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Senorita123(f): 6:59am On Mar 23, 2018 |
Nawa o.... This should be like the 29.5th buyer...Soldier go soldier come I still remain 0809ja, at least for their fast Internet service. 8 Likes 1 Share |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by GeoOla25(m): 6:59am On Mar 23, 2018 |
Nice plan |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by zolajpower: 7:00am On Mar 23, 2018 |
Good one |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Nobody: 7:00am On Mar 23, 2018 |
Another change of name coming soon 2 Likes |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by calebfm(m): 7:00am On Mar 23, 2018 |
make dem sha improve d network, cos I wan port from mtn 2 Likes |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by nony43(m): 7:00am On Mar 23, 2018 |
B |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by adetes: 7:00am On Mar 23, 2018 |
Good for them |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Omotoyosi98(m): 7:00am On Mar 23, 2018 |
Let's see how they re-brand the network,we re watching o 1 Like |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Nobody: 7:01am On Mar 23, 2018 |
Senorita123: Not good for downloading 1 Like |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Willzz(m): 7:01am On Mar 23, 2018 |
[quote author=postbox post=66078197]Teleology Holdings has agreed to buy 9mobile, Nigeria’s fourth largest telecoms provider, the investment firm said on Thursday. 9mobile, formerly Etisalat Nigeria, took out a $1.2 billion syndicated loan from 13 local banks in 2013 but failed to make repayments last year. Under the stewardship of its lenders, it has changed its board, management and name and is now up for sale. Teleology said it had made a $50 million deposit to meet conditions for the acquisition and had partnered with East Africa’s largest telecoms operator Safaricom to transform debt-laden 9mobile. Teleology was set up by 12 telecoms industry veterans led by ex-MTN Nigeria executive Adrian Wood. Barclays Africa picked Teleology as the preferred bidder for debt-laden 9mobile last month and asked the company to pay a non-refundable deposit of $50 million by March. Teleology said it transferred the deposit to the trustee holding 9mobile shares on behalf of the lenders. Teleology said it had been in meetings in the last few days with executives of the . |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by osasuehi(m): 7:02am On Mar 23, 2018 |
Thank God!!! |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by seunoni34(m): 7:02am On Mar 23, 2018 |
I pray they do better than the others |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by datola: 7:02am On Mar 23, 2018 |
Agreed ke. Were they begging them to buy? |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by emyibe(m): 7:02am On Mar 23, 2018 |
good |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by emmabest2000(m): 7:02am On Mar 23, 2018 |
2 Likes 2 Shares
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Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Senorita123(f): 7:03am On Mar 23, 2018 |
Kingwizzy16:Really.? .. I never knew tho |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by pawesome(m): 7:03am On Mar 23, 2018 |
Ok |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by nex(m): 7:03am On Mar 23, 2018 |
Hmmm. It's just too sad what happened to Etisalat Nigeria...that was my favourite network. |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by dheaven: 7:03am On Mar 23, 2018 |
postbox:If they can cover rural areas they will succeed because many villages in Nigeria do not have network coverage up till now. 1 Like 1 Share |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Odmic2839(m): 7:05am On Mar 23, 2018 |
Dis Etisalat don finally turn to Airtel. Dem just dey sell am up n dan. I wonder who go buy am next after dis HT 1 Like |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Ushiefrank(m): 7:05am On Mar 23, 2018 |
B |
Re: TH Has Agreed To Buy 9mobile, Nigeria’s 4th Largest Telecoms Provider. by Kulas: 7:05am On Mar 23, 2018 |
MTN and GLO still the best, strongest and more reliable than all these all time name changing Unreliable baby Networks 2 Likes |
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