Sunday, February 25, 2018

Teleology Holdings Limited “Officially” Announced As The New Owners of 9Mobile

The big question that has been on the minds of Nigerians which is Who are the new owners of 9Mobile? has finally been answered and now it's been made official. Teleology Holdings Limited has ‘Officially’ been named as the preferred Bidder of 9Mobile, which you know is a journey that started months ago with up to a dozen companies involved in the bidding.
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After about 3 months of biding and speculation, Teleology Holdings Limited has been officially confirmed as the preferred bidder for 9mobile by Barclays Africa who is acting as the transaction adviser.

The emerged winner company, (Teleology Holdings Limited) has also been told to make a non-refundable cash deposit of $50 million within 21 days from the date of the letter (21st February 2018) or forfeit its position as the preferred bidder.

Teleology Holdings Limited is a private firm that is championed by Adrian Wood, the pioneer Chief Executive Officer of MTN. The company has an investment portfolio of $11bn and offered more than $500 million to acquire 9mobile as opposed to Smile’s $300 million.

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