It has been a tale of claims and counter-claims since reports broke out a few days ago that a Federal High Court in Abuja has nullified the sale of 9mobile to Teleology.
A few days ago, I saw the first report that a Federal High Court in Abuja has nullified the sale of 9mobile (formerly Etisalat International Nigeria Limited) to Teleology Nigeria Limited . Just when we thought we could rest from the Etisalat-9mobile-Teleology drama, this happened. Sigh.
According to the news report, there has been a pending court case on the matter, yet the major parties went ahead to carry out the sale. The acquisition was done in October 2018.
9mobile has responded to say that the sale is valid and has filed an appeal against the Abuja Federal High Court’s decision. “The action before Justice Binta Nyako of the Federal High Court is not about the sale of EMTS (9mobile) but rather, the transfer of the license even without locus standi,” the company’s legal adviser is reported to have said .
Legal squabbles often get messy and get drawn out for long periods. It looks like this is going to be one of them. We will find out eventually whether the sale of 9Mobile to Teleology is valid or null and void after it is all over.
This drama reminds one of the squabbles over ECONET Wireless all over again. That network is now Airtel Nigeria, after several transitions and rebranding exercises. It took the network operator quite a while to recover from the consequences of the drawn-out struggles of those years. Hopefully, 9mobile will not have to be dragged around for too long so the dust settles faster.