9mobile to be sold to Teleology Holdings
Boye Olusanya, the chief executive officer (CEO) of 9mobile, has finally confirmed that the telecommunications company, formerly known as Etisalat Nigeria, will be sold to Teleology Holdings.
According to Olusanya, Teleology Holdings emerged the best bidder in the sale process, while Smile Telecoms Holdings is considered as reserved bidder if Teleology reneges on its bid for the multimillion-dollar company.
In a communication with members of staff, Olusanya said its lenders, presumably Barclays Africa, will now engage Teleology to finalise negotiations on the sale of the company.
“In line with my previous communications on the bid process, discussions and negotiations have put the board in a position to name Teleology Holdings as the preferred bidder for our company,” Olusanya said via a memo sent to Todaysecho.
“The lenders will now engage Teleology Holdings to conclude other aspects of the negotiation and I will continue to provide updates as and when the milestone occur.”