NCC MOVES TO IN­TER­VENE IN 9MO­BILE, PROM­ISES TO PRO­TECT SUB­SCRIBERS, IN­VESTORS

THISDAY - - BUSINESS WORLD | NEWS -

a state­ment, ac­cused Tele­ol­ogy Hold­ings of not meet­ing its obli­ga­tions in the en­tire 9mo­bile ac­qui­si­tion process.

The state­ment had said Tele­ol­ogy Hold­ings failed to meet its obli­ga­tions in the en­tire ac­qui­si­tion process of 9mo­bile, even though it owned a mi­nor­ity stake in Tele­ol­ogy Nige­ria Lim­ited.

“It failed sev­er­ally and wholly to meet their obli­ga­tions. Its founder, Mr. Adrian Wood was not per­son­ally present for all the crit­i­cal pre­sen­ta­tions made by the con­sor­tium dur­ing the bid process and failed ab­jectly with his fi­nanc­ing ar­range­ments with Swiss-based UBS Bank.

“In all these fail­ings, other part­ners in the con­sor­tium filled the gap and pushed ahead un­til the sale was com­pleted,” the state­ment added.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.