Teleology Holdings has emerged winner of the bid to buy 9mobile, formerly Etisalat.
CEO of 9mobile, Boye Onasanya, disclosed this on Thursday in a memo, saying Teleology Holdings emerged the best bidder in the sale process, while Smile Telecoms Holdings is considered as reserved bidder if Teleology reneges on its bid.
According to Onasanya, lenders, presumably Barclays Africa, will now engage Teleology to finalise negotiations on the sale of the company.
Teleology is reportedly being promoted by former CEO of MTN Nigeria, Adrian Wood.
Reports say Teleology put in a bid of $500 million while Smile quoted $300 million.