HomeServicesTelecomsAirtel pulls out of race to purchase 9Mobile as Globacom also fails...

Airtel pulls out of race to purchase 9Mobile as Globacom also fails to submit a bid

Jumia Black Friday Deals

9mobile purchase

Airtel will no longer be a party to the process of acquiring the properties of now-defunct Etisalat (which is now known as 9Mobile), and that has come as a shock to many.

Being the third largest provider of telecoms services in the country, industry experts had seen this as a big boom for Airtel. Afterall, a successful purchase of the infrastructure owned by 9Mobile will make Airtel the number one biggest telecoms provider in the country, catapulting their customer base to a combined 85.5 million subscribers on both voice and internet packages.

According to an insider who spoke to TheCable on the matter, the reason for Airtel’s cold feet at this stage of the deal was because the brand felt ‘many things are not too plain with the entire process.’ Going on to make their statement, the source reported that

Airtel believes too many things are hidden about the health of 9Mobile, and that it is to risky for anyone to buy the company. Things become compounded with the court case by Spectrum Wireless.

Of course, it is reasonable that such a thing will scare off the company from making the purchase. Risk management and the bearing of shareholders would have been major factors in reaching this decision. However, looking on the bright side for this sale are the quotes of $500 million and about $300 million which have been submitted by Teleology Holdings Limited and Smile Telecoms Holdings respectively.

Since Airtel is out of the deal, and two companies have already brought their quotes, that leaves the last two of five – Globacom and Helios Investment Partners. Surprisingly too, none of these companies came forward with a quote, even as the window for bid submissions closed. It remains to see what new turn the sale will take, and who eventually gets all the spoils in the end.

Latest articles

Afrilearn Launches World’s First Learn-and-Earn App

Afrilearn, Nigeria's favourite learning app, has set the educational landscape excited with the launch...

Jeep Wagoneer S: First Global Battery Electric Vehicle (BEV) from Jeep

Jeep has provided more information about its all new, all electric 2024 Wagoneer S....

Insoft unveils Assabil and weSign for Sales Force Automation and Streamlining Digital Workflow

At the GITEX Africa 2024 technology event Groupement Insoft-Saphir Systems, a leading provider of...

Top 10 Highest-Paying Careers Without a College Degree

A college degree is often touted as the key to success, but it's refreshing...

Top 20 Countries with the Least Expensive Freelancers

A study, conducted by invoicing software company Bookipi has unveiled the countries with the...

Will ChatGPT Take My Job? Expert Reveals The Five Professions At Risk

The more capable AI becomes, the more you might begin to worry about a...

Best Valentine’s Day Gifts Ideas

Looking for a great Valentine's Day gift for your loved one? You are in...

More like this

Insoft unveils Assabil and weSign for Sales Force Automation and Streamlining Digital Workflow

At the GITEX Africa 2024 technology event Groupement Insoft-Saphir Systems, a leading provider of...

Top 10 Highest-Paying Careers Without a College Degree

A college degree is often touted as the key to success, but it's refreshing...

Top 20 Countries with the Least Expensive Freelancers

A study, conducted by invoicing software company Bookipi has unveiled the countries with the...