It has been officially confirmed that Teleology Holdings is the official bidder of 9mobile in Nigeria. The report was first announced by ThisDay newspapers yesterday. The Cable online has also reported that Boye Olusanya CEO of 9mobile confirmed the story.
“In line with my previous communications on the bid process, discussions and negotiations have put the board in a position to name Teleology Holdings as the preferred bidder for our company,” Olusanya said via a memo seen by TheCable.
“The lenders will now engage Teleology Holdings to conclude other aspects of the negotiation and I will continue to provide updates as and when the milestone occur.”
With this development, the company has to make a non-refundable cash deposit of $50 million within 21 days from the date of the letter, dated February 21, 2018, or lose the bid to the reserve bidder, Smile Holdings Limited.
The Teleology team is made up of ex MTN Nigeria employees: ex-MTN Nigeria CEO, Adrian Wood; Group CEO, Sven-Axel Brudnicki; Mr. Michael Ikpoki, legal and regulatory, sales and distribution director of Teleology and Demola Elesho, Chief Technical Officer of Teleology
Boye Olusanya said its lenders, presumably Barclays Africa, will now engage Teleology to finalise negotiations on the sale of the company.
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