Smile Telecoms Holdings, the reserve bidder in the sale of 9mobile, had expressed its dissatisfaction over the manner in which the sale of 9mobile was handled, through a protest letter it wrote to Barclays Africa, the financial adviser that handled the sale of 9mobile.
The telecom giants protested and said it was not satisfied with the entire sales process that produced Teleology as the preferred bidder.
The company, however, said it would reposition the company and make it attractive again within a space of 90 days if given the opportunity to acquire it.
It assured this while protesting the sales process which placed Teleology ahead of the other bidders.
Smile Telecoms who emerged as the reserve bidder in the sale of 9mobile protested it was not satisfied with the manner the sale of 9mobile was handled in a letter it wrote Barclays Africa, the financial adviser that handled the sale of 9mobile.
The company also called for a review of the sales process in the letter it wrote to Barclays Africa.
However, despite the big fall of 9mobile from being the best data and voice telecoms company in Nigeria from 2013 to 2017, occasioned by the $1.2billion debt it incurred through loan financing from 13 local banks in 2013, coupled with its indebtedness to vendors and other telecoms operators, Smile Telecoms insisted it will transform the company and make it attractive within a space of just 90 days.
According to a THISDAY report, ‘The Executive Director, Operations, Smile Communications, a subsidiary of Smile Telecoms Holdings, Mr. Ahmad Farroukh, ‘The Executive Director, Operations, Smile Communications, a subsidiary of Smile Telecoms Holdings, Mr. Ahmad Farroukh,
According to Farroukh, “We will bring three-dimensional values to 9mobile if given the opportunity to acquire it. The first value is that we are Nigerian company already existing in the Nigerian telecoms space.
“So, we will come up with our existing assets to boost the 9mobile operations. We will seek the permission of NCC to flip our existing 800MHz frequency to 9mobile to enhance its operations. What we are bringing to 9mobile is huge.”
