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