9mobile reserved bidder promises repositioning within 90 days

The reserved bidder for 9mobile, Smile Telecoms, a subsidiary of Smile Telecoms Holdings, has promised to reposition 9mobile within 90 days if allowed to acquire the troubled telecommunication firm.

Executive Director, Operations, Smile Communications, Ahmad Farroukh, speaking in Lagos, said that 9mobile should be sold to an existing telecoms company with the right technical expertise and financial strength to turn it around for the highly competitive market within a few months.

Farroukh said Smile would bring three-dimensional values to 9mobile once it was allowed to acquire it.

The first value, according to him is that it will as a Nigerian company already existing in the Nigerian telecoms space, come up with its existing assets to boost the 9mobile operations.

Smile, he added will also seek the Nigerian Communications Commission (NCC’s) permission to flip its existing 800MHz frequency to 9mobile to enhance its operations.

Farroukh also promised that Smile will bring to 9mobile fresh millions of dollars from foreign financing outside Nigeria, to pay off its indebtedness to the banks and any other group that the company is indebted to.

Barclays Africa, financial advisors to 9mobile had last month written to Teleology Holdings, one of the bidders, as the preferred bidder for the telecommunications firm, saying it was asked to make a non-refundable cash deposit of $50 million within 21 days from the date of a letter, dated February 21, 2018, or lose the bid to Smile Holdings Limited.

But Smile Communications had since faulted the selection of Teleology Holdings as the preferred bidder on the grounds that Barclays Africa did not do a thorough job of the processes.


Please subscribe to our newsletter


Leave a Reply


We're not around right now. But you can send us an email and we'll get back to you, asap.


©2018 RockCity 101.9 FM. All rights reserved

News Categories


Log in with your credentials


Forgot your details?


Create Account