Business and Economy

9mobile Acquisition Timeline extended by Parties

Timeline for the completion of 9mobile acquisition process has been extended to enable all parties complete the needed transaction documentation for a smooth closure and transition to new investors.

In a statement by Mr. Boye Olusanya, 9mobile’s CEO “The board of 9mobile is pleased with the progress made thus far and expects the acquisition process to be completed as soon as possible. Further updates in this regard will be provided in due course. “We hereby thank our invaluable customers for their support and reiterate our continuing commitment to providing best-in-class telecommunication service,”

In the same vein, The Nigerian Communications Commission and the Central Bank of Nigeria  met earlier in the week with other key stakeholders in 9mobile’s acquisition to deliberate on facilitating 9mobile’s takeover by new investors.

9mobile is in the process of acquisition by Teleology Holdings Limited who emerged winners in the competitive acquisition bid  following loan repayment issues the former owners had with their Bankers

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