13 Mar Nigeria: Smile Telecom says it can reposition 9Mobile on the market within 90 days
Smile Telecoms Holding Limited, the 9Mobile reserve bidder, says it can reposition the mobile operator in the national telecoms market within 90 days if it is allowed to take over the company . Speaking on the subject last weekend in Lagos, Ahmad Farroukh, the executive director in charge of Smile Telecoms’ operations, presented the company as the best way to effectively support 9Mobile in a highly-focused Nigerian market. competitive in terms of its technical expertise and financial strength.
Smile Telecoms Holdings Limited is currently opposed to the sale of 9Mobile to Teleology Holding Ltd. The company which considers that the procedure of sale of the telecom operator was poorly performed, has already asked Barclays Bank, 9Mobile’s advisor throughout the sale process, a review of the entire operation that led to the final choice Teleology Holdings Ltd as preferred bidder. Smile Telecom wants practical evidence verified by a third party, that Teleology Holdings did meet all the prerequisites for its selection as preferred bidder.
It is tomorrow that expires the 21-day period granted to Teleology Holdings Limited since February 21, 2018 to pay a non-refundable deposit of US $ 50 million, marking the completion of the acquisition of 9Mobile. In case of default, Smile Telecoms Holdings Limited will eventually sell 9mobile.
Source: Agence Ecofin