Over the past couple months, we've all been glued to the war between several companies to acquire 9mobile after it was abandoned by its previous owners over a several debt issue.
Initially, 16 companies were interested in acquiring 9mobile, however along the line many were dropped leaving five final bidders in December and then two more were dropped leaving Globacom, Teleology and Smile.
(Bharti Airtel dropped out because they believed that whoever acquire 9mobile would be acquiring a huge debt)
Later on, Globacom was dropped leaving Teleology and Smile in the final round.
Then finally, Teleology Holdings Limited emerged as the overall winner through a game of numbers, as they offered over $500 Million against Smile's $300 Million bid.
According to a staff of 9mobile:
Initially, 16 companies were interested in acquiring 9mobile, however along the line many were dropped leaving five final bidders in December and then two more were dropped leaving Globacom, Teleology and Smile.
(Bharti Airtel dropped out because they believed that whoever acquire 9mobile would be acquiring a huge debt)
Later on, Globacom was dropped leaving Teleology and Smile in the final round.
Then finally, Teleology Holdings Limited emerged as the overall winner through a game of numbers, as they offered over $500 Million against Smile's $300 Million bid.
According to a staff of 9mobile:
“this news is like a double whopper burger for us. I can tell you there is an air of jubilation amongst the staff of 9mobile now. We did not want any of the existing operators to acquire 9mobile as they would end up sacking people and throwing people into the unemployment market under the guise of right sizing the business.”Although I really hoped GLO won the bid, I guess we just have to watch and see if Telelogy is a good new owner.
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