Eleven months after Teleology Holdings Limited made it to the top five of companies that made a bid to take over 9mobile, the company have successfully taking over the telecommunication company.
In a statement signed by Mohammed Edewor, Teleology said it “is pleased to announce the constitution of a new Board of Directors for Nigeria’s multi-award-winning telecommunication company, 9mobile”.
According to Teleology, this follows “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”.
“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.
“For us, the composition of the new Board of Directors is another significant milestone, and this follows the issuance of final approval of no objection by the Board of the Nigerian Communications Commission (NCC) to the effect that the technical and financial bids Teleology submitted for 9mobile met and satisfied all the regulatory requirements.
“This is indeed the dawn of a new era in the evolution of the 9mobile brand in the Nigerian market”.
The company announced the below individuals as the new board of directors:
- Nasiru Ado Bayero (Chairman)
- Asega Aliga (Non Executive Director)
- Adrian Wood (Non Executive Director)
- Mohammed Edewor (Non Executive Director)
- Winston Ndubueze Udeh (Non Executive Director)
- Abdulrahman Ado (Executive Director)
- Stephane Beuvelet (Acting Managing Director)
The chairman of the board, Nasiru Ado Bayero, appreciated the employees and subscribers, who he said should be prepared for best-in-class services forthwith. He said that:
“As we begin this new epochal phase, we wish to thank all the employees who built this viable business”.
“Our debt of gratitude also goes to our subscribers even as we assure them to get ready for real best-in-class additional value for their relationship with the 9mobile brand.
“Without you, there could not have been a 9mobile business for us to invest in today. We will justify your confidence in our brand by making significant investments that will improve the value you get for using 9mobile”.
The sale process of 9mobile was initially billed to be concluded on January 16, 2018, following an approval of the extension of the deadline by the Nigerian Communications Commission (NCC) after an initial December 2017 deadline.
Teleology eventually won the final bid, ahead of Airtel, Globacom, Smile, Helios.
The company, 9mobile, formerly known as Etisalat Nigeria was taken over in July 2017 following a 541 billion naira debt overhang.