{"id":457397,"date":"2018-01-26T15:42:52","date_gmt":"2018-01-26T15:42:52","guid":{"rendered":"https:\/\/www.financialafrik.com\/?p=457397"},"modified":"2018-01-26T15:42:52","modified_gmt":"2018-01-26T15:42:52","slug":"nigerian-9mobile-looking-for-new-buyer","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2018\/01\/26\/nigerian-9mobile-looking-for-new-buyer\/","title":{"rendered":"Nigerian 9mobile looking for new buyer"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>Barclays Africa Bank examines take-over bids by five potential buyers for heavily indebted Nigerian company 9mobile, according to the Reuters news site. After study, the bank will make a recommendation to the telecommunication company.<\/p>\n<p>Previously known as Etisalat Nigeria, 9mobile took out a syndicated loan of 1,2 billion from a group of 13 local banks in 2013, but struggled to repay last year, forcing its lenders to intervene .<\/p>\n<p>The central bank then intervened to prevent the creditors from putting it in receivership, resulting in a change of board of directors and management, as well as the change of name of the company.<\/p>\n<p>The crisis forced the parent company Etisalat to terminate its management agreement with the Nigerian company and to sell its 45% stake to a fiduciary company after the intervention of the central bank.<\/p>\n<p>Since its debt problems have emerged, 9mobile, the country&#8217;s fourth-largest operator, has quickly lost subscribers. In October, its users were 17,1 million, representing a market share of 12,2%, against 20 million last year, said the telecommunications regulator.<\/p>\n<p>The South African group MTN, market leader, holds 36,1% of the market in Nigeria.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Barclays Africa Bank examines take-over bids by five potential buyers for heavily indebted Nigerian company 9mobile, according to the Reuters news site. After study, the bank will make a recommendation to the telecommunication company. Previously known as Etisalat Nigeria, 9mobile took out a syndicated loan of 1,2 billion from a group of 13 local banks<\/p>\n","protected":false},"author":527297,"featured_media":457363,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12012],"tags":[13668,13666],"class_list":{"0":"post-457397","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-telecoms-en","8":"tag-9mobile-en","9":"tag-new-buyer","10":"post_format-post-format-aside","11":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigerian 9mobile looking for new buyer - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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We aspire to neutrality, but we assume our subjectivity\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.financialafrik.com\/en\/2018\/01\/26\/nigerian-9mobile-looking-for-new-buyer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigerian 9mobile looking for new buyer\" \/>\n<meta property=\"og:description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. We will strive, and gradually, to conceive, comfort and reach them. 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