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We have not acquired 9mobile, says Globacom

We have not acquired 9mobile, says Globacom
January 12
21:17 2018

Globacom, Nigeria’s second largest telecommunications network, says it has not acquired 9mobile.

In a statement shared with TheCable on Friday, Globacom said it is bound by the terms of the acquisition process and it will not deviate from the rules.

“Globacom has not acquired 9Mobile as widely reported in the media. We are bound by the terms of the acquisition process as stipulated by the authorities handling it and we will not in any way sway or deviate from the rules,” the statement read.

“We repose confidence in Barclays Africa, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) which are handling the process that will lead to the emergence of a new owner for the company.”


Debunking news of a preferred bidder on Thursday, the Nigerian Communications Commission (NCC) said it would be left to the interim board of 9mobile to pick a winning bid out the recommended bids by the NCC and the Central Bank of Nigeria (CBN).

The deadline for bid submission is January 16.

The company formerly known as Etisalat Nigeria was taken over in July 2017 after it defaulted on a N541 billion debt.


Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator as a result of the debt owed to a consortium of 13 banks.

In December, TheCable listed the top five bidders who made it to the next stage of the purchase bid as Airtel, Globacom, Smile, Helios, and Teleology Holdings Limited, promoted by Adrian Wood, the pioneer CEO of MTN Nigeria.


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