Other Telecos

Barclays Endorses Teleology as Preferred Bidder of 9mobile

The financial adviser handling the sale of 9mobile, Barclays Africa has on Wednesday finally put to rest numerous media speculations about the actual sale of 9mobile.

Barclays Africa transmitted an official letter to Teleology Holdings Limited, confirming it as the preferred bidder in the sale of 9mobile.

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, which was dated February 21, 2018, or lose the bid to the reserve bidder, namely Smile Holdings Limited.

The official letter signed by Barclays & transmitted to Teleology on Wednesday, has, as a result, finally confirmed Teleology as the preferred bidder.

Teleology was also given access to 9mobile’s records & financial books including the opportunity to seek more clarifications concerning 9mobile from 9mobile management, within the 30-day window, which began counting from January 26, when the first letter on the third phase of the auction process was transmitted to Teleology Holdings.

Based on the official letter written to Teleology, notifying it as the preferred bidder & to also make the initial cash deposit, the ball is now in Teleology’s court to prove its financial status & capability to buy 100% stake in 9mobile.

Its operational team includes MTN Nigeria’s second CEO, Mr. Adrian Wood who managed the telecoms company from 2001 – 2004, after the first CEO, Mr. Karel Piennar.

Wood is the chairman of Teleology Holdings with over 30 years’ experience in the global telecoms sector.

Sven-Axel Brudnicki is Teleology Group’s CEO with more than 20 years’ experience as telecom executive with international leadership across 2 continents.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *