Official Notice: Teleology Finally Acquire 9Mobile in a $500m Deal

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9Mobile bidding procedure, which started last year - with 16 companies - is finally over. Teleology appeared as the preferred telecom operator on February 21 and exceeded the time frame set in the lawsuit by paying a $ 50 million non-refundable deposit to buy 9mobile.

Opportunity to acquire 9mobile would run out of teleology without having met the deadline, Barclays Africa (the bidding company) invited SmileTelecoms Holdings bidders to take control of the 9mobile.

This is true for SmileTelecom Holdings, who have expressed their willingness to take over 9Mobile, saying they can resume work in just 90 days - only if there is a chance. However, Teleology Holding is still required to complete its $ 500m balance for 9mobile in the next three months to take over the fourth telecommunications operator in Nigeria.

All contract documents for a mobile transaction would be executed by all parties. Former Executive Director MTN NG Adrian Wood, who piloted the 9-cell Teleology bid, said the company took over the mobile loan and brought together a management team with combined experience. 374 years in the telecommunications sector.

“We have 12 executives coming in and they comprise five of my former colleagues at MTN such as the ex-CTO and ex-CFO. Others include executives from Orange, Vodafone, Celtel and others.”
“9mobile is transiting into a new phase that will be defined by optimal value delivery: value to our employees, value to our customers, value to local communities and indeed to all stakeholders.”-Mr Wood.

In addition, Teleology has formed an alliance with Safaricom, the largest mobile phone operator in eastern Africa. After all the finishing touches to this business, Mr. Adrian Wood will be the new executive vice president / CEO of 9Mobile. It is unknown now whether the company changed its name and renamed it again.

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