The financial adviser on the sale of 9mobile, Barclays Africa has
finally concluded on this mandate as it transmitted an official letter to
Teleology Holdings Limited, thus settling speculations on the preferred bidder
in the sale of 9mobile, reports ITRealms.
The chief
executive officer of 9Mobile, Mr Boye Onasanya, also confirmed that Teleology
Holding is the preferred buyer of the telecommunication company.
According to ThisDay reports which quoted Olusanya as saying that
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 an internal
memo, Olusanya informed employees of the latest development, saying its
lenders, Barclays Africa, would continue the final process with Teleology to negotiate
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.
“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.”
The letter also
directed Teleology Holdings to make a non-refundable cash deposit of $50
million within 21 days from the date of the letter, dated February 21, 2018, or
lose the bid to the reserve bidder, Smile Holdings Limited.
As at Thursday,
source close to Barclays Africa, had confirmed Teleology Holdings Limited received
a letter notifying the company as the official document for the purposes of finishing
on the sale of 9mobile.
ITRealms recalls that NCC had on
February 1, 2018, clarified it was yet to receive any information from
Barclays Africa and 9mobile concerning the sale of Etisalat turned 9Mobile, and dismissed as
speculations and reports making the rounds then, that Teleology had emerged as
the preferred bidder.
Chuks Egbune/GEE
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