Despite Challenges, 9Mobile Deal Will Go Ahead

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 14-May-2018

Despite the challenges from different opposition groups trying to stop the ongoing sale of 9mobile to an investment firm, Teleology Holdings, the deal is still on course and will still go ahead, according to sources.

TMT Finance reported that the 9mobile deal would still go ahead despite the challenges from opposition groups that are trying to use the court to stop the sale of 9mobile to the preferred bidder, Teleology Holdings Limited.

According to the report, some operators have been lobbying for the 9mobile case, which could end up with Teleology being auditioned in front of the House of Representative to present the viability of its project for 9mobile.

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A Federal High Court had also put on hold the sale of 9mobile following opposition to the deal by some shareholders of the company. One of the companies said to be a shareholder in 9mobile and a plaintiff in the suit is Katsina businessman, Dahiru Mangal.

However, sources added it would be hard to find grounds to stop the deal from happening on both of these fronts.

As for the court order, the local councils overseeing case have already given an informal approval for the deal to go ahead, sources commented.

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