One of these 5 telecom companies would soon be the new owner of 9mobile
Based on the result by the Barclays Bank, here are five successful companies considered to be a potential buyer of 9Mobile.
According to reports in local media, these telecom companies have scaled through to the final phase of the bidding process. The Barclays bank of United Kingdom was appointed as the deal adviser to midwife the process.
Based on insider knowledge, the inability of MTN Group, Eriksson, Dangote Group e.t.c to the US$100 million bank bond excluded them from the process.
9Mobile (formerly Etisalat Nigeria) is the fourth largest telecom company in Nigeria. The telecom company took a $1.2 billion loans from a consortium of banks in 2013. Owing to the currency crisis and economic downturn in Nigeria, the telecoms failed to meet the repayments plans as agreed.
As a result, 45% of its equity stakes was transferred to the banks and Etisalat International and the Mubadala Investments Group exited the business in June 2017. It took the intervention of the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) to prevent the company's collapse.
Mr Boye Onasanya, CEO of 9mobile stated that: “We are now moving on to the next phase, with plans for more extensive discussions and interaction with shortlisted parties, one of whom will emerge as a final bidder in the coming weeks.”
Airtel Nigeria is a business unit of the Indian telecom company, Bharti Airtel. Nigeria is noted by Bank of America-Merrill Lynch in a note to clients to be the biggest market of the group and contributes over 30% to the company’s annual revenue.
The Global Communications Limited (Globacom) is the first indigenous GSM telecom companies in Nigeria. More so, it is first to run an optic fibre cable across the Atlantic Ocean towards opening up the broadband market in Nigeria and Africa.
Also Read: BUA Group moves to get 9Mobile as Airtel Bharti, Virgin Mobile and Vodafone express interest
Helios Investment Partners is a private equity investment firm operating in Africa and based in London, United Kingdom. The firm has an investment in major sectors including oil and gas, telecommunications e.t.c. The Helios Towers is one of the major telecommunication infrastructural companies in Nigeria and Africa.
Smile Communications provides 4G LTE mobile broadband in several African countries. One of the top management of the company is Ahmad Farroukh.
Ahmad Farroukh was the former Group CEO of MTN International and he has previously managed Mobily - Saudi Arabia’s second largest telecommunications operator.
Teleology Holdings Limited
There is little information about this company.
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