Teleology finally takes over 9mobile

Nigeria's telecoms regulator, Nigerian Communications Commission, has finally approved the takeover of 9mobile by a new investor, Teleology Holdings.

Teleology has appointed Nasiru Ado Bayero (Chairman), Stephane Beuvelet (Acting Managing Director) and 5 other directors to run Nigeria's fourth-largest telecoms company, 9mobile.

This comes after the company was finally taken over by Teleology Holdings Limited.

Mohammed Edewor, the company's spokesperson said Teleology “is pleased to announce the constitution of a new Board of Directors”, following “the successful completion of the tenure of the former Board appointed by the Central Bank of Nigeria (CBN) and in fulfilment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited”.

“We thank all out-going members of the Board for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017 and wish them the very best in their future assignments.

“For us, the composition of the new Board of Directors is another significant milestone, and this follows the issuance of final approval of no objection by the Board of the Nigerian Communications Commission (NCC) to the effect that the technical and financial bids Teleology submitted for 9mobile met and satisfied all the regulatory requirements.

“This is indeed the dawn of a new era in the evolution of the 9mobile brand in the Nigerian market”.

Teleology, an investment firm led by the former MTN Nigeria chief, Adrian Wood, emerged as the preferred bidder in February 2018, following a bid process arranged by Barclays Africa, after a debt default forced Etisalat out of the country.