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Tag Archives: 9Mobile

UK investors willing to offset 9mobile’s $1.2b debt closes in on deal

9Mobile

Chances of local investors cashing in on acquiring cash-strapped 9mobile are fading as Nigeria’s fourth largest telecommunications service provider, is gearing towards sealing a deal with investors from the United Kingdom. Investigations by Business Hilights showed that key pointer to the emerging deal stemmed from the readiness of the ‘veiled’ investors to effectively offset the telecoms $1.2 billion loan debt. ...

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Banks’ working collectively for early sale of 9Mobile—Okonkwo, Fidelity Bank CEO

9Mobile shop

As the 180 days window handed down to the receiver managers of 9Mobile continue to count, the managing director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, has said that all the banks whose money is trapped are working together for smooth sale of the telecoms on or before the end of the year. Explaining industry issues in a recent interactive ...

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9mobile reloads subscribers’ data experience with Moreflex hybrid premium bundles

9Mobile shop

Telecoms giant, 9mobile, has deepened its commitment to improve positive customer experience for its subscribers with the launch of a new service ‘Moreflex Hybrid Premium Bundles.’ Moreflex Hybrid Premium Bundles is a prepaid package that offers cost effective roaming experience to customers on voice, SMS and data services. The package is designed to allow subscribers use the flex bundles locally ...

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NITDA would have done to Omatek, what NCC did to Etisalat—-Analysts

NITDA pantami

Omatek Computers Plc., was once a leading computer and other device brand of note in Nigeria, but was serially silenced and technically subdued by debt pileup from the Bank of Industry (BoI) some months ago. The bank had in July secured a court ruling to take over the company’s operational premises due to nonperforming loans (NPLs)  and that effectively marked ...

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How Etisalat experience forced NCC to begin telecoms stress test

The telecoms regulator, Nigerian Communications Commission (NCC), has technically begun stress test to weigh and ascertain the liquidity status of mega telecoms to avoid the repeat of the 9Mobile experience, formally Etisalat Nigeria. Though the board chairman of the Commission, Senator Olabiyi Durojaiye, had during the initial stage of Etisalat crisis hinted on the test, the Executive Commissioner in charge ...

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How banks’ removal of $1.2Bn 9Mobile debt from books’ll shape future

9Mobile shop

Since the revelation that the 12 banks involved in the $1.2 billion 9Mobile loan are setting aside a large part of the debt from their books ahead of the December 31 end-date for the fiscal year, financial pundits have started weighing the development. However, many of the experts who spoke to Business Hilights traced the new posture of banks to ...

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Why 13 creditor banks suddenly seized fire on 9mobile, formally Etisalat

9Mobile shop

Two weeks of undercover investigations by Business Hilights Economic Research Team (BHERT) on why the rush and aggression deployed by the consortium of 13 banks fighting for their trapped $1.2bn at Etisalat Nigeria, now 9Mobile suddenly eased has paid off. Result; They have noticed that efforts of the combined team of telecoms regulator, Nigerian Communications Commission (NCC) and the Central ...

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9mobile joins ISPs, steps up calls for review of data floor, spectrum management

9Mobile

Even though 9Mobile is facing issues bordering default on syndicated $1.2bn loan with 13 banks in Nigeria, that did not deter it from appealing to the Nigerian Communications Commission (NCC) to review the industry’s spectrum assignment, data floor price and interconnect rates. Before now, leading Internet Services providers (ISPs) including the managing director of Spectranet Limited, Mr. David Venn had ...

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NCC hosts 9Mobile exco, opens up on why it intervened with CBN

NCC Dan

At last, the Nigerian Communications Commission (NCC) has revealed why it was attracted to resolving the Etisalat debt issue, saying it had targeted a hanging $2bn Foreign Direct Investment (FDI) expected from Mubadala of United Arab Emirates, core investors in the telecoms which faded away after all. Giving the insight while playing host to the Chief Executive of 9Mobile, Mr ...

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Can Ovia stir disruptions to begin second missionary journey with 9Moblie?

Jim Ovia

Though very limited number of analysts can direct their guesses along this line, it may not be out place for the young smart driven banker, Mr. Jim Ovia to take a second chance in the Nigerian telecoms industry. Given his resilience to drive the last standing CDMA to a good sale at a time others dried up without a comfortable ...

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