Nigeria’s indigenous network provider Globacom Nigeria Limited has joined the duo of Dangote business unit and some other foreign firm to bid for the acquisition of 9mobile formally known as Etisalat after the controversial loan saga which led to the change of name.
It was gathered that 16 investors from Nigeria and the United Arab Emirate had initially entered into the race to acquire Nigeria’s fourth largest network operator, before 10 out of the initial 16 were able to advanced to the next stage of the biding.
Top 10 bidders who made it to the second stage of the bidding are Globacom Nigeria Limited, Airtel Nigeria, Dangote Group’s telecoms business unit, Alheri Engineering Limited, Smile Telecoms Holdings, Centricus Capital and Africell, Abraaj Capital (Based in Dubai), Teleology Holdings Limited, The Carlyle Group and Africa Capital Alliance (ACA).
Etisalat Nigeria whose mother company Etisalat group based in Abu Dhabi few years ago came into the Nigerian telecommunication business was early 2017 faced with an inability to pay back the $1.2 billion loan from a consortium of 13 Nigerian banks which led to the change of name and subsequently put on sale as the Dubai based mother group and partners exits from the Nigerian arm of the company.
