NCC clears 9mobile takeover

13 Nov 2018

The Nigerian Communications Commission (NCC) has approved the takeover of 9mobile, the country’s fourth largest wireless operator by subscribers, by Teleology Holdings. Reuters cites a statement from the investment consortium as saying that it has appointed a new board of directors to run the indebted cellco, after receiving final clearance for the deal by the NCC.

In February Gibraltar-registered Teleology, which is led by former MTN Nigeria executive Adrian Wood, emerged as the preferred bidder for 9mobile (known as Etisalat Nigeria until July 2017), outbidding pan-African LTE operator Smile Telecoms. The bid process was arranged by Barclays Africa, after a debt default forced 9mobile’s lenders to step in. Teleology reportedly raised the USD251 million bid balance by the payment deadline, following which the NCC launched a review of the buyer’s financial and technical capacity.

Nigeria,Emerging Markets Telecommunication Services (9mobile), Nigerian Communications Commission (NCC),

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share