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9mobile To be sold out on January 16

Nigerian Communications Commission (NCC), has stated that there would be no shift in the date fixed for sale of 9mobile.

It insisted that the transaction and hand over to its new owner must be concluded on January 16.

NCC Executive Commissioner, Stakeholders Management, said this in a chat with Thisday.

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Barclays Africa, the financial adviser handling the sale of 9mobile, had the initial mandate of December 31, 2017 to conclude the sale of 9mobile.

However, the company, citing reasons, wrote to the Central Bank of Nigeria (CBN) and the NCC, asking for extension of date from December 31, 2017, to (approved) January 16, 2018.

Barclays Africa had since last year, shortlisted the final five firms – Teleology Holdings Limited, promoted by Adrian Wood, the pioneer CEO of MTN Nigeria; Smile Telecoms Holdings, with operations in Nigeria, Tanzania, Uganda, Congo DR and South Africa; Helios Investment Partners; Bharti Airtel and Globacom.

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Reacting to the rumoured plan by the four local operators to form an alliance in order to win the sale, Dare stressed that consolidation is a good idea.

“Nigeria can learn a lot from the Indian telecom experience of consolidation and market competition in the development of the telecom market.

“The consumer in India now enjoys lots of benefits and cheap data,” he said.

 

Source: DailyPost

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