The
Nigerian Communications Commission (NCC) has said that Teleology Holdings
Limited is on course to take over 9mobile Nigeria provided the company is able
to pay $450 million within the next 90 days.
NCC’s
Executive Vice Chairman Prof Umar Garba Danbatta disclosed this yesterday in an
interview with journalists after the NCC management paid a courtesy visit to
the Central Bank of Nigeria in Abuja.
Prof
Danbatta, who for the first time publicly confirmed the $50m deposit made by
Teleology Holdings Limited, said the company would get 9mobile when it paid the
balance of $450m before the expiration of 90 days deadline.
“Well,
the information I have for you is that the preferred bidder has emerged and it
has been told to pay, starting with a deposit of $50 million which the
preferred bidder has paid, we have information to this effect.
“What
remains is for the preferred bidder to pay the balance of $450 million in the
next 90 days, or less than 90 days anyway. And upon payment of that amount,
9mobile would be transferred to the preferred bidder, which is Teleology
Holdings Limited.
“In
the event Teleology fails to pay after the expiration of the deadline of 90
days then the reserved bidder will be considered and the reserved bidder is
Smile. That is the position at the moment, ’’ he said.
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