9mobile Solicits for New Investors

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Former Etisalat Group now 9mobile says it is open to partner with new investors, its chief executive said on Wednesday at an event to officially announce the company’s new name which replaces Etisalat Nigeria.

He also added that 9mobile will continue to manage its business pending when they begin to partner with investors.

UAE’s Etisalat terminated its management agreement with its Nigerian business in June and surrendered its 45 percent stake to a trustee following regulatory intervention to save the local company from collapse due to debt.

The CEO 9mobile Boye Olusanya said that the company had retained its workforce and that Etisalat’s withdrawal had not led to a loss of business opportunities.

“Like any business, we are always available for someone with a good offer … but we are prepared to manage this business for the long haul. This brand was not developed with the mindset that it’s a three-month brand ” Olusanya said at the event in Lagos.

“If at any point in time someone does come in with an offer that is attractive then that person will have the right to do whatever they want to do with the brand,” Olusanya said.