Olusanya Confirms 9mobile Will Be Sold to Teleology


Enterprise Television- Olusanya Confirms 9mobile Will Be Sold to Teleology

Chief Executive Officer (CEO) of 9mobile, Boye Olusanya, has finally confirmed that the telecommunications company, formerly known as Etisalat Nigeria, will be sold to Teleology Holdings.

According to Olusanya, 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.

In a communication with members of staff, Olusanya said its lenders, presumably Barclays Africa, will now engage Teleology to finalise negotiations on the sale of the company.

While 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.