Many want to know who owns 9Mobile (Etisalat Nigeria), and would also like to have details about the stakeholders in the company.
Here is a post by KikioTolu which is going to give you full details on the owner of 9Mobile Nigeria. We are going to give you info on the history of the company, the CEO, the founded date and lots more.
It’s official and no longer news, Etisalat Nigeria is now 9Mobile
That shouldn’t be a breaking news anymore, most Nigerians and the over 20 million subscriber of Etisalat now know that the company has backed out of the Nigerian market (after loan troubles), and has been taken over by 9Mobile.
I know a lot of people are in search of information on the new telecommunications company. Many want to know who truly owns 9Mobile, how big the company is, can they be trusted, and lots more. Here is a post which is going to give you full information on just that.
History of 9Mobile Nigeria
As at March 2017, I don’t think any Nigerian could have predicted the rise of 9Mobile. This virtually unknown name is now today the fourth largest telecommunications company in Nigeria today.
This company is sort of a rebranding of the troubled Etisalat and there seems to be little difference between the two.
On the 14th of July 2017, following a three-week ultimatum by Etisalat International, embattled Etisalat Nigeria changed its name to ‘9Mobile’.
The decision of the Abu Dhabi owned telecommunications networks to exit the Nigerian market resulted after its $1.2 billion loan talks collapsed.
Before the breakdown of agreement between Etisalat International and Etisalat Nigeria, the Nigerian arm claimed that it had repaid 42 percent of the loan.
Teleology Holdings Limited then secured 9mobile deal, as telecommunications industry continues to struggle in Nigeria. 9mobile, formerly Etisalat Nigeria was officially taken over by telecommunications investment body, Teleology, as of Novermber 12th, 2018. Teleology announced through media communications that the deal was officially confirmed.
Who is the owner of 9Mobile Nigeria?
Many people want to know the owner of this company. Though we had stated earlier that little has changed between Etisalat Nigeria and 9Mobile, don’t get twisted thinking the board remains the same.
Before the rebranding, the Chairman of Etisalat Nigeria, Hakeem Belo-Osagie, suddenly resigned, and a new board was put in place.
Teleology Holdings is the parent organization and owner of 9Mobile Nigeria. That said let us look into the setup of Teleology Holdings, and those who run it.
Teleology, a private equity firm with an investment portfolio of $11 billion, offered more than $500 million to acquire the mobile network while Smile offered about $300 million.
According to industry sources, the company was purposely set up by some influential investors to revive the embattled telecom.Teleology is run by the pioneer Mr Adrian Wood, chief executive officer (CEO) of MTN Nigeria.
Nasiru Ado Bayero is the Chairman of Teleology Holdings. He is the son of a late Royal Magnate and owner of Asuokpu/Umutu marginal oil fields in Nigeria worth over $100 billion.
Asega Aliga is the Non Executive Director of Teleology Holdings, he is a Former Chief Operations Officer at United Capital, Subsidiary of United Bank for Africa owned by Tony Elumelu.
This shows that a lot has changed at the top of 9Mobile.