Helios joins Smile Telecoms, Teleology, others to bid for 9mobile

Helios joins Smile Telecoms, Teleology, others to bid for 9mobile

There are indications that owners of Interswitch Group, Helios Investment Partners has joined the bid to acquire 9mobile.

It would be recalled that Smile Telecoms and Teleology Holdings Limited were reported to have been shortlisted by Barclays, the financial adviser for the deal, according to a report by BusinessDay.

There are also fillers that Globacom and Bharti’s Airtel have submitted their bids to take over Nigeria’s fourth largest mobile carrier that almost went under after it could not repay its USD1.2 billion syndicated loans to local lenders and international banks.

According to people familiar with the matter, interest bidders are to submit their proposals on or before the 31st of December, 2017. Neither Helios, Globacom, Airtel and even Smile have commented on the matter so far

It would be recalled that Helios Investment Partners has plans to take Interswitch Group public but stuttered after analysts suggested that the company’s numbers were not very encouraging for an initial public offering, IPO to excite investors.

It is expected that the preferred buyer for 9mobile could be named before the end of first quarter next year.