The Nigerian Communications Commission (NCC) has begun implementing measures to prevent service disruption of 9mobile amid reports that Teleology Holdings could abandon its acquisition deal of the beleaguered operator.
Despite the fact that none of the involved parties have asked the NCC to mediate, the regulator’s executive vice chairman Umar Garba Danbatta said that it is taking steps to accommodate the issue, noting that the NCC “both customer and investor centric”.
“We need stability in the telecoms industry and we will do everything possible to protect the interest of both the 9mobile subscribers and its investors and ensure there is no disruption of services”, said Danbatta.
Last week, it was reported that Teleology Holdings founder Adrian Wood had resigned from the board of 9mobile after it rejected his firm’s turnaround plan. Rumours circulated that the operator’s management had been keen to remove Wood and Teleology, and it appears that the company will now also exit Teleology Nigeria, the consortium set up specifically to implement the acquisition in which it holds a 13% stake.
A statement from 9mobile’s board said: “while every partner in the consortium was delivering and meeting their obligations to the partnership in terms of financial resources, physical availability for crucial meetings and extensive network to help build the business, Mr Adrian Wood’s Teleology Holdings, which only owned a minority stake in Teleology Nigeria, failed severally and wholly to meet theirs.”
Local press attributed the comment to 9mobile’s regulatory and corporate affairs director Oluseyi Osunsedo.
