Smile Telecom said they Will Reposition 9Mobile in Just 3 Weeks

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The acquisition of 9Mobile takes longer than expected. the sale was completed before January 16 this year, but on the contrary, it is still withdrawn. A few days ago, Smile Mobile requested a review of 9mobile acquisition, but blamed the process by which Barclays Africa (the company responsible for the bidding process) announced Teleology Holdings as the best bid.

Smile Telecom said it was ready to put 9mobile on the track in just 90 days, but only if it was allowed to take control of the financially distressed acquisition company. Smile Telecom's executive director emphasized that 9Mobile deserves the best and should sell it to an existing telecommunications company with good technical experience and financial strength to turn it into a highly competitive market for several months.

According to Smile Telecom, “The first value is that we are Nigerian company already existing in the Nigerian telecoms space. So, we will come up with our existing assets to boost the 9Mobile operations. We will seek the Nigerian Communications Commission (NCC’s) permission to flip our existing 800MHz frequency to 9Mobile to enhance its operations. What we are bringing to 9Mobile is huge.

“The second value that we will bring to 9Mobile is the monetary value. We will bring in fresh millions of dollars from foreign financing outside Nigeria, into 9Mobile to pay off its indebtedness to the banks and also pay off any other group that the company is indebted to and we will still have enough to invest in 9Mobile and make it competitive.

However, Barclays Africa is showing support by promising to “be in touch with Smile to discuss any updates on the transaction, to the extent considered necessary.”

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