BUA Group is among leading investors that have expressed interest in acquiring 9Mobile, formerly known as Etisalat Nigeria.
The Chief Executive Officer of 9Mobile, Mr. Boye Olusanya, has said that the telecommunication company “Like any business, we are always available for someone with a good offer. But we are prepared to manage this business for the long haul.”
“If at any point in time someone does come in with an offer that is attractive, then that person will have the right to do whatever they want to do with the brand. But this brand was not developed with the mind-set that it’s a two- or three-month brand.”
Virgin Mobile from the United Kingdom and Vodacom of South Africa have also expressed interest in acquiring 9Mobile which recently unveiled its new logo in Lagos.
BUA Group and the two operators along with the others were already making plans to submit their memoranda of interest and technical presentations to a consortium of banks.
The BUA Group were trying to put together a bid with its technical partners. The consortium of banks has appointed advisers, which include Standard Bank of South Africa and Citibank of New York to receive and evaluate bids.
Every bid will be reviewed before bringing them to the board of new directors.