Glo distances self from 9mobile acquisition

Glo has denied acquiring 9Mobile

Telecommunications giant, Globacom, has distanced itself from media reports which insinuated that it was the preferred bidder to acquire telecommunications company, 9Mobile.

A press statement issued in Lagos on Friday said: “Globacom has not acquired 9Mobile as widely reported in the media.”

According to the company, “We are bound by the terms of the acquisition process as stipulated by the authorities handling it and we will not in any way sway or deviate from the rules”.

“We repose confidence in Barclays Africa, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) which are handling the process that will lead to the emergence of a new owner for the company”.

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Globacom urges all stakeholders and, indeed, the Nigerian public to disregard the report.

Nigerian telecom regulator, NCC, has echoed Glo’s position concerning the acquisition of 9Mobile.

In a statement issued by Tony Ojobo, the NCC says the clarification was necessary as it did not want a doubt over the process.

“Our attention has been drawn to newspaper publications alleging that a preferred bidder has been anointed to acquire 9Mobile and otherwise speculating on the outcome of the ownership transfer process,” NCC spokesperson, Tony Ojobo said.

He then went on to explain the process leading to the takeover. “For the avoidance of doubt, we wish to provide the following clarification and update on the process: Barclays Africa remains in full control of the process leading to the emergence of a new owner for the company.

“Barclays has not authorized any publication on the matter and is obliged to maintain full confidentiality thereon.

He stated that “An approval of the request for extension of time by the 9Mobile Interim Board was given by the 2 regulators – NCC and CBN.

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