Except any last-minute change in permutations, Nigeria’s
indigenous telecoms giant, Globacom, may finally acquire the
debt-ridden 9mobile, ahead of other bidders in the race, New
Telegraph has reliably gathered.
Sources privy to the process said Mike Adenuga’s telecoms
network appears ‘more favoured’ to beat Airtel, Dangote Group, and
other bidders to the lucrative bid. The development is coming just
as the telecoms umpire, the Nigerian Communications Commission
(NCC), said the winner in the bidding process for 9mobile takeover
would be announced in a few days. Globacom plans to buy 9mobile
(formerly Etisalat) and after buying it, the network stands the
possibility of emerging as Nigeria and Africa’s number one network,
according to telecoms industry experts.
Industry pundits affirm that Globacom’s acquisition of 9mobile
would be an epic coup, considering stiff competition from top
telecoms players who have shown interest in the company. Over the
past few weeks, the list of companies that have tendered bid for
9mobile includes India’s Bharti Airtel, operating as Airtel in
Nigeria; Dangote Group’s telecoms business unit, Alheri Engineering
Limited, which has the backing of U.S.-based Blackstone Group with
an investment portfolio of $378 billion and a Nigerian subsidiary
called the Black Rhino Group. Others are Smile Telecoms Holdings, a
South African telecommunications group with subsidiaries in
Nigeria, Tanzania and Uganda; and Helios Towers, the former owner
and operator of the largest telecoms tower network in Nigeria and
other countries, before it sold its Nigerian infrastructure to HIS
and Teleology Holdings.
Meanwhile, Globacom, Bharti Airtel, Smile Telecoms Holdings,
Helios and Teleology Holdings Limited have all been shortlisted as
the five bidders still in the running to buy 9mobile, just as two
of the shortlisted companies plan a joint venture (JV) to have the
strength needed to win.
The companies were selected through a process conducted by
Barclays Bank, the financial adviser to the creditor banks, on
December 4 after submission of Expression of Interest (EoI) to buy
9mobile. Formerly known as Etisalat, 9mobile, as Nigeria’s fourth
largest telecoms provider with some 18 million active subscribers,
ran into financial problem early in the year after missing
repayment obligations of a $1.2 billion syndicated loan taken from
a consortium of 13 Nigerian banks in 2013.
However, New Telegraph gathered that despite the fierce
competition, Globacom appears confident to sail through as the only
successful bidder. According to sources conversant with the ongoing
buying process, if Glo succeeds in acquiring 9mobile, it will
consolidate its position as the most successful player in Nigeria’s
telecoms industry and the network to beat in the African telecoms
sector. With its expected winning, Globacom is going to ignite a
battle of titans between it and MTN Nigeria as their subscriber
base would be at par, making Glo and MTN the two gladiators in the
nation’s $70 billion telecoms industry. According to the latest
industry data released by the NCC for the month of October, MTN
currently has some 50.7 million-subscriber base, while Glo has 37.4
million. By adding Etisalat’s current 17.1 million subscribers to
Globacom’s existing subscribers after takeover of 9mobile, Glo’s
subscriber will stand at over 54.5 million subscribers, making
Globacom the largest telecoms company in Nigeria.
Except any last-minute change in permutations, Nigeria’s
indigenous telecoms giant, Globacom, may finally acquire the
debt-ridden 9mobile, ahead of other bidders in the race, New
Telegraph has reliably gathered.
Sources privy to the process said Mike Adenuga’s telecoms
network appears ‘more favoured’ to beat Airtel, Dangote Group, and
other bidders to the lucrative bid. The development is coming just
as the telecoms umpire, the Nigerian Communications Commission
(NCC), said the winner in the bidding process for 9mobile takeover
would be announced in a few days. Globacom plans to buy 9mobile
(formerly Etisalat) and after buying it, the network stands the
possibility of emerging as Nigeria and Africa’s number one network,
according to telecoms industry experts.
Industry pundits affirm that Globacom’s acquisition of 9mobile
would be an epic coup, considering stiff competition from top
telecoms players who have shown interest in the company. Over the
past few weeks, the list of companies that have tendered bid for
9mobile includes India’s Bharti Airtel, operating as Airtel in
Nigeria; Dangote Group’s telecoms business unit, Alheri Engineering
Limited, which has the backing of U.S.-based Blackstone Group with
an investment portfolio of $378 billion and a Nigerian subsidiary
called the Black Rhino Group. Others are Smile Telecoms Holdings, a
South African telecommunications group with subsidiaries in
Nigeria, Tanzania and Uganda; and Helios Towers, the former owner
and operator of the largest telecoms tower network in Nigeria and
other countries, before it sold its Nigerian infrastructure to HIS
and Teleology Holdings.
Meanwhile, Globacom, Bharti Airtel, Smile Telecoms Holdings,
Helios and Teleology Holdings Limited have all been shortlisted as
the five bidders still in the running to buy 9mobile, just as two
of the shortlisted companies plan a joint venture (JV) to have the
strength needed to win.
The companies were selected through a process conducted by
Barclays Bank, the financial adviser to the creditor banks, on
December 4 after submission of Expression of Interest (EoI) to buy
9mobile. Formerly known as Etisalat, 9mobile, as Nigeria’s fourth
largest telecoms provider with some 18 million active subscribers,
ran into financial problem early in the year after missing
repayment obligations of a $1.2 billion syndicated loan taken from
a consortium of 13 Nigerian banks in 2013.
However, New Telegraph gathered that despite the fierce
competition, Globacom appears confident to sail through as the only
successful bidder. According to sources conversant with the ongoing
buying process, if Glo succeeds in acquiring 9mobile, it will
consolidate its position as the most successful player in Nigeria’s
telecoms industry and the network to beat in the African telecoms
sector. With its expected winning, Globacom is going to ignite a
battle of titans between it and MTN Nigeria as their subscriber
base would be at par, making Glo and MTN the two gladiators in the
nation’s $70 billion telecoms industry. According to the latest
industry data released by the NCC for the month of October, MTN
currently has some 50.7 million-subscriber base, while Glo has 37.4
million. By adding Etisalat’s current 17.1 million subscribers to
Globacom’s existing subscribers after takeover of 9mobile, Glo’s
subscriber will stand at over 54.5 million subscribers, making
Globacom the largest telecoms company in Nigeria.