9mobile Will Be Sold To Only Financially Stable Company(NCC)

Some days ago, five companies (Airtel, Glo, Helios investment partners LLP, Smile and Teleology Holdings Limited) emerged as the top five bidders to buy 9mobile network and on December 31st, 2017, 9mobile will be handed to the preferred bidder.

Nigeria Communications Commission (NCC), reiterated that December 31st deadline for the handover of 9mobile to the preferred bidder is “Sacrosanct“.

Prof Umar Garba Danbatta, the Executive Vice Chairman of NCC, said the remaining five bidders are allowed to conduct due diligence on 9mobile as the firm evidence of strong financial commitment to buy 9mobile.

He said Nigeria authorities should not just handover 9mobile to any company but to a very “technically and financially stable company“.

He said the company who ever buys 9mobile should be ready to improve the fortune of the company.

See his statement below:

“As you are aware five bidders have emerged as I am talking to you and they have been allowed to access the data room of the 9mobile in order for them to get access to the financial situation of the company and subsequently make bid for the takeover of the company.

“But we will ensure that the takeover is done in a regulated manner, not a forceful manner. That is why the CBN and the NCC are supervising what is going on through the interim board that was jointly set up by the NCC and other partners.”

Leave a Reply