9mobile Shareholders Do Not Want To Sell Their Company
For 9mobile shareholders, it does not matter to them that their business has racked up about 15 billion naira in debt.
They are simply unwilling to let go of their company.
The shareholders cautioned the Central Bank of Nigeria, CBN, the Nigerian Communications Commission, NCC and others involved in an ongoing negotiation to sell the telecommunication firm not to proceed with the transaction in view of a pending case before the Federal High Court in Abuja.
The shareholders – Afdin Ventures Limited and Dirbia Nigeria Limited – warned of the legal consequences to the CBN and others should they proceed to conclude the sale of the network despite a subsisting order of the court, halting further activities in relation to the sale of the telecommunication firm.
Afdin and Dirbia, promoted by businessman, Dahiru Mangal, issued the warning on Thursday in letters written by their lawyer, Mahmud Magaji (SAN), to the six parties said to be involved in the transaction.
Apart from the CBN and the NCC, others whom the letter were addressed to are Etisalat International Nigeria Limited, Karlington Telecommunications Limited, Premium Telecommunications Holdings NV and First Bank of Nigeria Plc.
Afdin and Dirbia said their letters were informed by recent media report credited to one Boye Olusanya (CEO, 9mobile) to the effect that “9mobile’s board was pleased with the progress made thus far and expects the acquisition process to be concluded as soon as possible.”
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