• Contact Us
  • About Us
Sunday, June 1, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Companies and Markets

Helios, others bid for Nigerian telecoms firm 9mobile – sources

metro by metro
December 8, 2017
in Companies and Markets, Technology
0
0
SHARES
0
VIEWS
9mobile
9mobile

Private equity firm Helios Investment Partners has submitted a bid to acquire Nigeria’s 9mobile under a sale process aimed at finding new investors for the debt-laden telecoms firm, one person familiar with the matter told Reuters.

Nigerian lenders have picked Barclays to try to find new investors for 9mobile after banks took over the telecoms firm, formerly called Etisalat Nigeria, for defaulting on its loan.

Read Also

Leading brands showcase SAP-fuelled AI, cloud innovation at Sapphire 2025

Shares Dither, US Dollar Climbs On Rosy Economic Data

Africa’s AI skills landscape revealed in new SAP report

Since the debt issue, 9mobile, the country’s fourth biggest operator, has lost subscribers. In October its total number of users had fallen to 17.1 million, giving it a 12.2 percent market share, from 20 million subscribers with a 14 percent share earlier this year, the telecoms regulator said.

South Africa’s MTN, the market leader has 36.1 percent.

Nigeria’s Globacom and Bharti Airtel’s local subsidiary also submitted bids, another source familiar with the matter said.

Smile Telecoms and Teleology Holdings Limited have been shortlisted, Business Day reported.

Helios declined to comment. Globacom, Airtel, Smile and Teleology could not be reached for comment.

Bidders are required to submit a firm financial bid and conduct due diligence by Dec 31, the local paper reported.

Etisalat Nigeria took out a $1.2 billion (£0.8 billion) syndicated loan from a group of 13 local banks but struggled to make repayments this year due to a currency crisis and recession in Nigeria.

 The Nigerian central bank intervened to save the company from collapse and prevent creditors from putting it into receivership, leading to a change in its board and management, as well as the new name 9mobile.

The crisis forced the telecoms company’s one-time parent Etisalat to terminate its management agreement with its Nigerian business and surrender its 45 percent stake to a trustee following the central bank intervention.

Tags: 9mobileHelios
Previous Post

Nigerian Airlines Shun Expatriate Pilots, Save over N5bn Annually

Next Post

Flour Mills of Nigeria plans $127 mln share sale

Related Posts

English News Releases

Leading brands showcase SAP-fuelled AI, cloud innovation at Sapphire 2025

May 28, 2025
Shares Dither, US Dollar Climbs On Rosy Economic Data
Companies and Markets

Shares Dither, US Dollar Climbs On Rosy Economic Data

May 28, 2025
English News Releases

Africa’s AI skills landscape revealed in new SAP report

May 15, 2025
English News Releases

Cybersecurity Critical to Protect Future of Telehealth 

May 14, 2025
Next Post

Flour Mills of Nigeria plans $127 mln share sale

Naira

Anxiety Over Naira As OPEC+ Increases Production Quota By 411,000 Bpd

June 1, 2025
OPEC

OPEC+ Oil Producers Stick To Guns With Another Big Hike For July

June 1, 2025
20 Kano Athletes, Officials Die In Road Accident While Returning From Sports Festival In Ogun

20 Kano Athletes, Officials Die In Road Accident While Returning From Sports Festival In Ogun

May 31, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version