Advisory News

Mobile operators from across Africa among potential 9mobile bidders

Mobile operators from across Africa among potential 9mobile bidders

MTN, Bharti Airtel and Ntel are among 16 firms that formally submitted interest in buying Nigeria’s 9mobile, formerly Etisalat Nigeria.

As previously reported Etisalat ran into trouble with the Nigerian banks having taken loans of $1.2 billion for network upgrade and expansion. Etisalat Nigeria subsequently re-branded to become 9Mobile after the withdrawal of Abu-Dhabi-based, Etisalat Group as a shareholder.

According to ThisDay, Africell with operations in DRC, Gambia, Uganda and Sierra Leone, is on the list, as is Bua Group, a local diversified business with a stake in a wide range of sectors.



Morning Side Capital Partners and Blackstone Private Equity also submitted ‘expressions of interest’. Vietnam-based Viettel is also in the running.

The companies will now conduct due diligence and prepare to submit bids. 9mobile CEO Boye Olusanya said he wants to get the operator on track to make a profit and raise new capital, adding it was open to new investors.

Last month the thirteen banks to whom 9mobile owes money said they are trying to ensure a smooth sale of the operator by the end of the year. According to GSMA Intelligence, 9mobile has around a 13 per cent share of Nigeria’s mobile market, behind MTN, Glo Mobile and Airtel.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

AppsAfrica.com is a leading pan-African technology news portal and advisory service, dedicated to delivering the latest insight on mobile, tech and innovation in Africa.
AppsAfrica Advisory provides strategic, tactical and operational Africa advisory services for mobile and tech ventures planning to launch or expand in Sub-Saharan Africa with a team of experienced advisors. Our events celebrate and connect the best in mobile and tech from across the African tech ecosystem with global players.

Subscribe to our mailing list

Subscribe to our mailing list

Copyright © 2013 - 2018 AppsAfrica. All rights reserved.

To Top
[gravityform id="3" title="false" description="false"]
[gravityform id="3" title="false" description="false"]