Teleology Holdings and Teleology Nigeria, its local partner appear to be locked in a battle.
Teleology Holdings said that the management services contract would have enabled it and its team of experts oversee the implementation of the organisation’s elaborate business plans including funding proposals, had the local partner straightened its acts.
There is no official statement from Teleology Holdings but the reported decision is coming about two months after it received approval to take over operations of 9mobile as the preferred bidder.
Unconfirmed reports said that while Teleology Holdings is accusing the local partners of blocking it from concluding a management services contract, the local partner was short of calling the international arm a fraud, saying it does not want to abide by due processes and standards of operation.
It said the decision to pull out of the 9mobile deal was because it doesn’t appear the local partners were sincere in the whole project.
However, the local partner, Teleology Nigeria retorted by saying that some of the practices the international arm wanted to introduce to the business were unbecoming, hence the willingness to see Teleology Holding adjust to standard practices or quit willingly.
Subscribers of 9mobile, are waxing worriedly as confusion trails the reported pulling out of Teleology Holdings from local telco.
News broke early this week that Adrian Wood, former chief executive of MTN led Teleology Holdings is considering pulling out of 9Mobile due to delays in effecting important contractual agreements by the local partner, Teleology Nigeria.
Teleology Holdings holds about 13 percent shareholding in 9Mobile.
9Mobile in real sense is owned by Teleology Nigeria Limited which is a fully registered indigenous company.
It is not also known the impact of the bickering would have on subscribers on 9mobile’s network.
9Mobile has close to 12 million subscribers as at November 2018, according to data by Nigerian Communications Commission (NCC).
9mobile, formerly Etisalat, began trading under its new name following the financial consequences of defaulting in the servicing of a syndicated loan of $1.2 billion owed a consortium of 13 Nigerian banks.
In the aftermath, its erstwhile technical partners Etisalat Group exited the business and requested that the use of the ‘Etisalat’ brand name by the company be discontinued forthwith in Nigeria.