After the long wait and consideration, Teleology finally buys 9mobile which was previously known as etisalat. The Nigerian Communications Commission (NCC) officially announced the takeover of 9mobile by a new investor, Teleology Holdings which cost $500 million.
Without wasting time, the new owners has given 7 official sits to new appointed workers. They are Nasiru Ado Bayero – Chairman, Stephane Beuvelet – Acting Managing Director and 5 other directors to run the Nigeria’s fourth-largest telecoms company, 9mobile.
According to the company’s Spokesperson, Mohammed Edewor, “Teleology is pleased to announce the constitution of a new Board of Directors”, following “the successful completion of the tenure of the former Board appointed by the Central Bank of Nigeria (CBN) and in fulfilment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited”.
“We thank all out-going members of the Board for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017 and wish them the very best in their future assignments.
“For us, the composition of the new Board of Directors is another significant milestone, and this follows the issuance of final approval of no objection by the Board of the Nigerian Communications Commission (NCC) to the effect that the technical and financial bids Teleology submitted for 9mobile met and satisfied all the regulatory requirements.
“This is indeed the dawn of a new era in the evolution of the 9mobile brand in the Nigerian market”.
As said earlier, Teleology superpowers Smile on the field to acquire 9mobile with difference of $200 million which it’s total is $500 million while smile bid $300 million.