9mobile network now has compainies awaiting to acquire the network. Smile, Globacom, Airtel, Helios and Teleology Holdings Limited are now the top five bidders. Meanwhile, MTN group did not make it to the final bid. So, out of the five bidders, who will be the eventual buyer in a matter of weeks?
As 9mobile company gets closer to its final bidder, Boye Onasanya, the CEO of 9mobile said it will have more extensive discussions with the shortlisted parties.
“We are now moving on to the next phase, with plans for more extensive discusssions and interaction with shortlisted parties, one of whom will emerge as final bidder in the coming weeks,” Onasanya said.”
Before this time, it was 16 companies that tendered expression of interest to 9mobile financial advisor, Barclays.
In July 2017, Etisalat informed the Abu Dhabi Stock Exchange, that it have pulled out of 9mobile as a result of controversies surrounding the repayment of a $1.2 million loan taken by the bank.