March 22, 2018 IBOMLLC Team

Excitement as Teleology finalizes its takeover of 9mobile

Excitement as Teleology finalizes its takeover of 9mobile

Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

The Nigerian telecom sector is set to witness a new era of innovation and vibrancy as Teleology puts finishing touches to its acquisition of 9mobile, Nigeria’s 4th telecom service provider.

In the last few days, key executives of the organization have been deep in meetings with the Nigerian bank syndicate, the regulatory authorities and advisors. These meetings have culminated in the signing of the Share Purchase Agreement (SPA) and other contractual documents pertaining to the acquisition.

Ahead of the 22 March deadline set by the Financial Advisers, Teleology has also transferred a non-refundable completion deposit of US$50 million to the Trustee for the bank syndicate presently holding ownership of 9Mobile. This payment underscores Teleology’s financial capability and readiness to revive the organization.

Equally important, Teleology has detailed an ambitious plan of action that will guide its rapid overhaul not only of the network but all aspects of the operations.

According to Adrian Wood, Teleology’s Director and pioneer Managing Director of MTN Nigeria, “9mobile is transiting into a new phase that will be defined by optimal value delivery: value to our employees, value to our customers, value to …read more

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