9 Mobile not for incompetent investors – NCC

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Nigerian Communications Commission (NCC) has said the 9mobile telecommunication company would not be sold to an incompetent investor and promised to ensure that the company is taken over by investors with the requisite technical capability and pedigree to manage the organisation.

NCC disclosed this in a statement issued by it’s Spokesman, Tony Ojobo, yesterday in Abuja. The commission that the regulatory agency would do everything legally possible to avoid past mistakes that led to the near-collapse of Nigeria’s fourth largest mobile network operator.

“The board of the Nigerian Communications Commission (NCC) has reassured Stakeholders of its commitment to ensure that the nation’s fourth largest Mobile Network Operator, EMTS/9Mobile, is duly taken over by investors with the requisite technical capability and pedigree to manage the organisation,” he said in a statement.

“Rising from its board meeting held in Abuja on Thursday, February 22, 2018, the board affirmed its determination to avoid the recurrence of any missteps that may have led to the current situation. The board therefore assured all Stakeholders that the Commission will apply all necessary diligence to see the ongoing sale process through to its logical conclusion in a manner that protects the overall national interest and the seamless operation of the national telecommunications network.

On his part, the Chief Executive Officer (CEO), of 9mobile, Boye Olusanya, confirmed that the telecommunications company will be sold to Teleology Holdings.

In a document made available to Blueprint Weekend, Olusanya told members of staff that Teleology Holdings emerged the best bidder in the sale process, while Smile Telecoms Holdings is considered as reserved bidder if Teleology reneges on its bid for the multimillion-dollar company.

It had earlier been reported that,Teleology, as promoted by Adrian Wood, former CEO of MTN Nigeria, is the preferred bidder for 9mobile, while Smile, a telco operating in Nigeria, Tanzania, Uganda, Congo DR and South Africa, is the reserve bidder.

It could also be recalled that, Teleology put in a bid of $500 million, Smile quoted $300 million, while Globacom, Nigeria’s second largest operator, and Helios Investment Partners LLP, an investment company, did not make any financial offer for 9mobile.

 


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