Court halts planned sale of 9mobile

Image result for Court halts planned sale of 9mobileThe Federal High Court in Abuja has stopped the planned sale of 9mobile following opposition to the move by some aggrieved shareholders.

The shareholders, Afdin Ventures Limited and Dirbia Nigeria Limited who claimed to be major investors, complained of being left out in the decision-making processes and are demanding the refund of their investment estimated at N1.56 billion.

The order by the court will put a spanner in the bid by Teleology who has already paid a $50 million non-refundable deposit for 9mobile.

Meanwhile, the NCC has said it would not hand over the telecoms operators license unless technical competence has been met.

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