9mobile sale extended to March

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The sale of 9mobile has suffered another major setback with the announcement by the Nigerian Communications Commission (NCC) that another 40 days had been added to allow those involved in the process to select and announce a preferred bidder for the telecoms company.

There has been a lot of unconfirmed reports regarding the sale of 9mobile other the company and the regulators are yet to make any official statement regarding the bids received but the NCC lamented that the unconfirmed reports are hurting 9mobile which had reportedly lost 4.5 million subscribers over the last seven months.

But the regulator is positive that between now and the next 40 days, a new investor should emerge for 9Mobile.

 

“Remember also, there are two regulators involved, there is a financial regulator, and a telecom regulator, and unless the financial process is completed, the licensing process wouldn’t kick in. Until we have evidence of the final report, the speculations will not do the brand any good as well as the subscribers,” said the Executive Commissioner, Stakeholder Management, NCC.

Dare added that the Commission would not take the interest of a particular bidder above others.

“NCC would be glad if 9mobile is eventually sold to a financially capable investor that is willing to invest in it. As a regulator, we will be glad to hear from the right source that 9mobile has a preferred bidder, and that must be communicated to us by the interim board of 9mobile, to enable us guide the preferred bidder on how to apply to NCC for operational licence transfer. But as I speak to you, NCC is yet to receive any official notice from 9mobile, indicating its choice for the preferred and reserve bidder of the telecoms company,” Dare said.

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