12 January 2018

Nigeria: Again, 9Mobile Takeover Date Extended

Photo: This Day

The Nigerian Communications Commission (NCC) has said the takeover of 9mobile will not take place on January 16 contrary to media reports.

According to the commission, only the deadline for the receipt of binding offers from the prospective bidders close on Tuesday, but the takeover wouldn't happen that day.

The NCC in a statement yesterday said contrary to speculations that a winner would be announced on the same day (i.e. 16th of January 2018), the preferred bidder would only be announced after recommendations from the "9mobile Interim Board".

The statement signed by NCC's spokesman Tony Ojobo said, "We wish to clarify that Barclays is expected to review the bids received by the deadline and to make recommendations to the 9Mobile Interim Board thereafter."

"The NCC and CBN will be duly notified once the 9Mobile Interim Board accepts Barclays' recommendations and a winning bid is determined in accordance with the terms of the exercise."

According to NCC, the Barclays Africa remained in full control of the process leading to the emergence of a new owner for the company.

Globacom Limited, Bharti Airtel, Smile Telecoms Holdings, Helios Investment Partners LLP and Teleology Holdings Limited are all in the race to buy 9mobile, the Nigeria's fourth largest telecommunications provider, which ran into financial problem with some banks last year.

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