December 2017, but it was shifted following a request made by the board of
9Mobile to the NCC. This request, the board, noted is to allow the final
bidders perfect their final bids.
that a successful buyer of 9Mobile (formerly Etisalat Nigeria) would be
announced on January 16, 2018 and there will be no shift of date again.
of date, insisting that the sale must be concluded January 16 this year, and
9mobile will be handed over to its new owner on that same date.”
Barclays Africa and shortlisted the 5 final firm bidding to acquire 9mobile. These
firms include Globacom, Bharti Airtel,
Smile Telecoms, Teleology Holdings Limited and Helios Investment Partners.
9Mobile (formerly Etisalat Nigeria) took $1.2 billion loans from a consortium led by Guaranty
Trust Bank (GTBank) and Access Bank Nigeria Plc. It, however,
defaulted in the loan repayments due to operational reasons and crisis in the
Nigerian foreign exchange market in 2015 and 2016.
This led the parent company, Etisalat International, to
pull out of the Nigerian business as the creditors threaten to transfer to the
company to receivership.