According to sources, 9mobile is still on course to continue with the ongoing sale of the telecommunication company to an investment firm known as Teleology Holdings, despite the challenges from different opposition groups trying to stop the ongoing sale. TMT Finance reported that the 9mobile deal would still go ahead despite the challenges from opposition groups that are trying to use the court to put a stop to the sale of 9mobile to the preferred bidder, Teleology Holdings Limited.
The report stated that some operators have been lobbying for the 9mobile case, which could end up with Teleology Holdings being auditioned in front of the House of Representative to present the viability of its project for 9mobile. The Federal High Court had also put on hold the sale of 9mobile following opposition to the deal by some of the shareholders of the company. Katsina businessman, Alhaji Dahiru Mangal who is the head of MaxAir Nigeria, AFDIN Group of Companies and D.B. Mangal Petroleum, is said to be one of the shareholders in 9mobile and a plaintiff in the suit. However, sources added it would be difficult to find grounds to stop the deal from happening on both of these fronts.
Sources also mentioned that as far as the court order goes, the local councils overseeing the case have already given an informal approval for the deal to go ahead.
[…] Holdings Limited secures 9mobile deal, as telecommunications industry continues to struggle in Nigeria. 9mobile, formerly Etisalat […]