Friday, 12 January 2018

9Mobile is not yet sold to Globacom - NCC warned

The Abuja-Nigeria Communications Commission, NCC, advises the media against unsupported speculation about 9mobile sales, saying the company has not yet been sold, and everything is followed by a just process.
9Mobile is not yet sold to Globacom - NCC warned

The Commission insisted yesterday that none of the winners came to the process of acquiring, rejecting the insinuation that the preferred bidder called for the purchase of 9mobile.

In a statement by the director of public affairs, Tony Ojoba, the commission's publication in the media department is fake and unfounded.

He explained that Barclays Africa maintained full control of the process that led to the emergence of a new owner or new business owner, pointing out that Barclays did not authorize any disclosure on that subject and was bound to maintain it. absolute secrecy.

Read Statement Below..

: “Our attention has been drawn to newspaper publications alleging that a preferred bidder has been anointed to acquire 9Mobile and otherwise speculating on the outcome of the ownership transfer process. For the avoidance of doubt, we wish to provide the following clarification and update on the process: Barclays Africa remains in full control of the process leading to the emergence of a new owner for the company. Barclays has not authorized any publication on the matter and is obliged to maintain full confidentiality thereon.

“An approval of the request for extension of time by the 9Mobile Interim Board was given by the 2 regulators – NCC and CBN. This set the deadline for the receipt of binding offers from the prospective bidders till 16th January 2018. Contrary to speculations that a “winner” will be announced on the same day (i.e. 16th of January 2018) we wish to clarify that Barclays is expected to review the bids received by the deadline and to make recommendations to the 9Mobile Interim Board thereafter.

“The NCC and CBN will be duly notified once the 9Mobile Interim Board accepts Barclays’ recommendations and a winning bid is determined in accordance with the terms of the exercise. The winner will now apply to NCC in order to commence the processes for securing the regulatory approvals from the Board of the NCC necessary to give full effect to the transfer. We trust that the foregoing sufficiently clarifies the position of the transaction and that it lays to rest any apprehensions regarding the unfounded media publications on the sale.”

Earlier, NCC had announced that about five telcos, Airtel, Globacom, Smile Communications, Helios, and Teleology Holdings Limited were shortlisted for final bidding from about 16 firms, including MTN, Airtel, Ntel (former NITEL), Virgin Mobile from the United Kingdom and Vodacom of South Africa, BUA Group, Morningside Capital Partners, Obot Etiebet & Co, Blackstone Private Equity, and Hamilton and George International Limited, that initially expressed interest and filed bids with 9mobiles financial advisor, Barclays.

Via: Press.

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  1. Thanks For ncc For coming up with this informative news

  2. Admin i think you have done a great job by passing this information, especially for those who have heard the on going news,


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