Mike Adenuga Billionaire offers $600m for Ivorian telecoms company

Adenuga is putting forward a takeover bid of $600 million for the Ivorian business through his Nigerian company, Globacom.

  • Published: , Refreshed:
Mike Adenuga play

Mike Adenuga

(The Capital)
24/7 Live - Subscribe to the Pulse Newsletter!

Nigerian billionaire, Mike Adenuga has expressed his interest in purchasing Ivorian mobile telecommunications operator, Comium Cote d’Ivoire.

Adenuga is putting forward a takeover bid of $600 million for the Ivorian business through his Nigerian company, Globacom.

Comium Cote d’Ivoire has been struggling with debt and cash flow problems in recent times, according to Telegeography.

If the deal works out, Globacom would have successfully extended its presence in West Africa.

The Nigerian telecoms company already possesses an international carrier services licence in Cote d’Ivoire and reportedly plans to invest over $1 billion in upgrading Comium-CI’s network over three years.

According to Forbes, Adenuga is worth $4.7 billion and is Nigeria’s second richest man.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.