Glo Set To Become New Owners Of 9mobile
Globacom is set to become the new owner of 9mobile.
Speculations had been rife about the acquisition following Etisalat Nigeria's $1.72 billion debt default. This was followed by the exit of its United Arab Emirates (UAE) parent company last July, and eventual take over by creditors which saw its renaming to 9mobile.
Now the company seems set for a new path in the wake of Glo's acquisition.
Though an official statement on the acquisition is yet to be released, Bounce News reached out to sources within Glo who confirmed the company's chairman, Michael Adenuga emerged the highest bidder in the process to become the new owner of 9mobile.
Glo currently has over 37 million subscribers, going by current available statistics from NCC, while 9mobile has an upwards of 19 million subscribers.
With the acquisition, Glo's numbers could swell to over 56 million subscribers placing it at par with MTN's 58 million and Airtel's 34 million.
The final official handover of 9mobile to Globacom Nigeria is reported to hold on January 16, 2018.
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