MTN Group failed to make into the final five companies in
the bid for 9mobile

The top five bidders who made it to the next stage of the
bid to acquire the embattled 9mobile inclues, Airtel, Globacom, Smile, Helios,
and Teleology Holdings Limited. Of course, out of the five, only one will be
the ultimate owner in few weeks to come.

According to TheCable, Boye Onasanya, CEO 9mobile, said it
will have more extensive discussions with the shortlisted parties, as the
company gets closer to its final bidder.
We are now moving on
to the next phase, with plans for more extensive discusssions and interaction
with shortlisted parties, one of whom will emerge as final bidder in the coming
weeks,
he said.
Earlier, 16 companies started the race for to acquire the embattled telco company by
expressing their interest (EoIs) to Barclays, 9mobiles financial advisor. It
was later dropped to 10 firms and now we have just five in the race.
Recall that in July, Etisalat Group informed the Abu Dhabi Stock Exchange that it had
pulled out of 9mobile, formerly known as Etisalat Nigeria, as a result of
controversies surrounding the repayment of a $1.2 billion loan taken by the
bank.

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