Teleology Holdings Finally Pays $50m First Deposit For 9mobile’s Acquisition

Okay for those who don’t know, the quest for the acquisition of 9mobile, formerly known as Etisalat, has been on a very hot drag lately, and this competition has been between these 5 big names and players in the telecommunications industry; Teleology, Smile, Globacom, Airtel, and Dangote’s Alheri. Then fast forward to February 21nd, Teleology Holdings was officially declared as the preferred bidder for 9mobile Nigeria, of which they were asked to make a non refundable deposit with the sum of $50m (Fifty Million Dollars), on or before March 22nd, or loss the offer to the second most preferred bidder, Smiles Telecommunications.

Teleology Holdings Limited Acquires 9mobile

So yesterday, being that March 22nd, Teleology Holdings officially made the payment, to beat the deadline, and as well seal the deal, thereby beating its competing opponent to the game. But that’s not all, they are also required to make another payment with the sum of $500m (Five Hundred Million Dollars), in the next 90 days, in order to take full possession of 9mobile. So let’s just keep our fingers crossed, and wait till this day.

But before that time, and for those who don’t know, Teleology Holdings Limited is a private equity firm run by the pioneer Chief Executive Officer (CEO) of MTN Nigeria, Mr Adrian Wood.

According to industry sources, the company was purposely set up by Wood and some influential Nigerian investors to revive the embattled telecom.

Teleology is also stated to currently manage over $11 billion in portfolio investments.

Mr Adrian Wood, the promoter of the company, is an economist. He was trained at Cambridge and Harvard Universities.

Mr Wood is also the CEO of Brymedia West Africa Limited.

So guys, that is all there is for 9mobile’s acquisition today, we hope to see some very significant changes taking place in 9mobile’s services to its customers, and every other aspects related.

Right now, we don’t know if the name is gonna remain 9mobile, or if they’re gonna change it to something else, but we’ll soon get to know with time. Meanwhile let us know what y’all think about this deal, and don’t forget to share too.. bye..


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