Teleology takes over 9mobile, appoints new board

Posted by Grand News | 13 November 2018 | 696 times



Ten months after being announced by Barclays Africa, as the preferred bidder and Smile Telecoms Holdings as the reserve bidder, Teleology Holdings has finally received approval to take full ownership of 9mobile.

Transmission of letters of notification were given to both the preferred bidder and the reserve bidder since February 21, 2018, but, Teleology could not take over 9mobile because it was yet to get the letter of ‘No Objection’ from the Nigerian Communications Commission (NCC), the telecoms industry regulator.

The Executive Vice Chairman of NCC, Prof. Umar Danbatta, had said NCC needed to conduct due diligence on Teleology Holdings to ascertain its technical competence in managing 9mobile.

He, however, said the due diligence had been conducted and the report submitted to the NCC board, but that the board was yet to decide on a position statement, based on the findings of the report.

THISDAY gathered that NCC had concluded on the 9mobile deal and had transmitted a letter of ‘No Objection’ to Teleology, the basis on which Teleology had to quickly appoint a new Board of Directors for 9mobile, having received the NCC nod to take full control of 9mobile. The announcement of the new board also coincided with the completion of the tenure of the former board.

In a statement on Monday, Teleology said it was pleased to announce the constitution of a new Board of Directors for 9mobile, following the successful completion of the tenure of the former board appointed by the Central Bank of Nigeria (CBN) and in fulfillment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited.

The seven-man Board of Directors include Chairman, Mr. Nasiru Ado Bayero; non-Executive Directors, Mr. Asega Aliga, Mr. Adrian Wood, Mr. Mohammed Edewor, and Mr. Winston Udeh; and Executive Director, Mr. Abdurrahman Ado. Ms. Stephane Beuvelet was appointed acting Managing Director.

According to the statement, which was signed by one of the newly appointed members of the board, Edewor, the telecoms said, “We thank all out-going members of the board for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017 and wish them the very best in their future assignments.


Source: Grand News

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