Business Hilights
Tracking Nigeria's Headline Business News Online

‘Forget all the backdoor moves, new owners of 9mobile, Teleology’ll meet time’

Contrary to all the observed schemes and organized media attacks designed by opposition to frustrate Teleology Holdings in becoming the final core investor in the sale of 9mobile, a usually dependable source on Tuesday, confided in Business Hilights that “Teleology will shock all the detractors’ when the balance payment for the conclusive ownership is made within record time”.

“Remember when it looked as if we are going to default initial payment, we complied right on time; let them watch out, the feat will soon be repeated and Nigerians will be in for innovative telecoms services.

The source which did not give exact date of the remaining balance payment, assured followers of the company to continue their support as Teleology is coming with the latest technology to raise the bar of data and voice service delivery.

“Our service quality and spread will be second to none as the team is already working underground to meet all regulatory conditions in quality service delivery ahead of final payment so that there will be no impediments in massive rollout of services.

The source was quick to brush away all trending claims and counter claims surrounding the successful closure of 9mobile sales to Teleology group.

Wood AD
Adrian Wood, promoter of Teleology Holdings Limited, possible owners of 9mobile

Before now, there had been series of media reports that apparently have the posture ‘planted and guided attacks’ on Teleology Holdings.

Business Hilights recalls that the very last lap in the official ownership of 9mobile by Teleology is the ability to meet the 90-day grace to pay up the balance, having made deadline in the payment of $50 million non-refundable initial payment.

Asides, there are two sides of lawsuit in Nigeria against Teleology coupled with observed hostile opposition from its fellow competitor and bidder, Smile Telecom who was reported to have hired UBS to help it raise a $300 million to standby in case there is a default form teleology.

Indication emerged that the UBS is placed on alert to raise the bridge loan from local banks and investors to cement the acquisition should the bid winner default any term(s).

On the other hand, it would be hard for the deal to be stopped by a law suit as there has not been any form of breach on the side of Teleology at a time the local councils overseeing the case have already given an informal approval for the deal to go ahead.

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