Teleology seeks 20-day extension to close 9mobile deal

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(Telecompaper) Teleology, the preferred bidder for the acquisition of Nigerian operator 9mobile, has requested three weeks to finalise the deal, NAN reported.  According to a source close to Barclays Africa who is in the know, Teleology reportedly communicated its commitment to paying the final bid price to the bank days ahead of the 90-day deadline on 30 June. The source said that Teleology had, however, requested 20 working days’ extension from the Central Bank of Nigeria “to enable it to perfect” the process for the final payout in line with the provision of the acquisition agreement.
Source: Industry News (syndicated from Telecompaper.com)

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