NCC clears 9mobile takeover

13 Nov 2018

The Nigerian Communications Commission (NCC) has approved the takeover of 9mobile, the country’s fourth largest wireless operator by subscribers, by Teleology Holdings. Reuters cites a statement from the investment consortium as saying that it has appointed a new board of directors to run the indebted cellco, after receiving final clearance for the deal by the NCC.

In February Gibraltar-registered Teleology, which is led by former MTN Nigeria executive Adrian Wood, emerged as the preferred bidder for 9mobile (known as Etisalat Nigeria until July 2017), outbidding pan-African LTE operator Smile Telecoms. The bid process was arranged by Barclays Africa, after a debt default forced 9mobile’s lenders to step in. Teleology reportedly raised the USD251 million bid balance by the payment deadline, following which the NCC launched a review of the buyer’s financial and technical capacity.

Nigeria, Emerging Markets Telecommunication Services (9mobile), Nigerian Communications Commission (NCC)