â€¢ Gives 21-day window for payment of $50m
Barclays Africa, the financial adviser handling the sale of 9mobile, Wednesday finally put to rest several media speculations about the actual sale of 9mobile.
The financial adviser transmitted an official letter to Teleology Holdings Limited, confirming it as the preferred bidder in the sale of 9mobile.
The letter also directed Teleology Holdings to make a non-refundable cash deposit of $50 million within 21 days from the date of the letter, dated February 21, 2018, or lose the bid to the reserve bidder, Smile Holdings Limited.
A source at Barclays Africa, who confided in THISDAY, said the letter served as the official document for the conclusion of the sale of 9mobile.
Although it has been reported that Teleology had been selected as the preferred bidder, but such reports were based on speculations, as Teleology had not earlier received any official document from both Barclays and 9mobile, and not even from the telecommunications industry regulator, the Nigerian Communications Commission (NCC).
NCC had on February 1, 2018, clarified that it was yet to receive any information from Barclays Africa and 9mobile concerning the sale of 9mobile, and dismissed as speculations and reports making the rounds then, that Teleology had emerged as the preferred bidder.
The official letter signed by Barclays and transmitted to Teleology Wednesday, has, therefore, finally confirmed Teleology as the preferred bidder.
The source also told THISDAY that Barclays had on January 26, 2018, communicated to Teleology Holdings of its emergence as the preferred bidder and gave it a 30-day window to finalise all financing agreements, as well as regulatory issues with the NCC.
It was also given access to 9mobile’s records and financial books as well as the opportunity to seek further clarifications concerning 9mobile from the management of 9mobile, within the 30-day window, which started counting from January 26, when the first letter on the third phase of the auction process was transmitted to Teleology Holdings.
Based on the official letter written to Teleology, informing it as the preferred bidder and to also make the initial cash deposit, the ball is now in the court of Teleology to prove its financial status and capability to buy 100 per cent stake in 9mobile.
Teleology, which seeks to acquire and develop underperforming telecoms and electronic media operations in emerging markets, has deep expertise in recovery and transformation of licensed fixed and mobile operators, Information Technology (IT) firms, as well as design, consulting, application and content service providers.
Its operational team comprises of the second CEO of MTN Nigeria, Mr. Adrian Wood, who managed Nigeria’s biggest telecoms company from 2001 to 2004, after the first CEO, Mr. Karel Piennar.
Wood, who is the face of Teleology Holdings, is the chairman of the telecoms company, with over 30 yearsâ€™ experience in the global telecoms sector.
Teleology Group CEO is Sven-Axel Brudnicki, with over 20 yearsâ€™ experience as telecom executive with international leadership across two continents.
The first Nigerian CEO of MTN Nigeria, Mr. Michael Ikpoki, is the legal and regulatory, sales and distribution director of Teleology, while the former Chief Technical Officer of MTN Nigeria, Mr. Demola Elesho, is the Chief Technical Officer of Teleology.
Elesho is a specialist in network re-engineering and large scale deployments and has worked for Multi-Links Telecom, MTS, Vodafone Spain, MTN, Airtouch USA, BT and Cellnet.
The Chief Financial Officer is Mr. Kemal Shefik, who has over 30 yearsâ€™ experience in finance and strategy executive with extensive international experience on three continents.
Other team members include Mr. Paul Crosa as sales, marketing, MFS, commercial strategy, with over 20 yearsâ€™ experience in commercial executive with international background across Africa and Latin America.
Mr. Richard Noren is the procurement, supply chain, systems manager with over 20 yearsâ€™ experience in procurement, logistics and supply chain executive with international management roles across three continents.
Mr. Rodney Wayne is the finance, internal auditor, and Terry Moorhead is the chief network architect with over 40 yearsâ€™ experience, while Mr. Robert Gerrity is the Enterprise, B2B and Multimedia Solutions Manager.