The Nigeria Communications Commission has said it will not approve the sale of 9mobile to any bidder without technical competence. He said that a preferred bidder for 9mobile had emerged with the full participation of the NCC, adding that the bidder was already undergoing financial evaluation. The preferred bidder for 9mobile, Teleology Holdings Limited, has paid $50m as 10 per cent of the bid price for the acquisition of the country’s fourth largest mobile operator, while Smile Communications is the reserved bidder. Danbatta stated, “Once the Central Bank of Nigeria has done the financial evaluation of the bidder, the NCC will also examine the technical capacity of the preferred bidder. “If the financial evaluation process was not done properly, the CBN will address questions on that; the examination process is meant to be open and transparent.

Source: Punch April 17, 2018 01:30 UTC