Foreign investors jostling to buy 9Mobile


Minister of Communications, Adebayo Shittu, has revealed that many foreign investors are jostling to buy over telecomunication firm, 9Mobile (formerly Etisalat), after Mudbadallah left the country.

Shittu stated this while speaking on ‘Political Circuit’, a political programme on Ibadan-based Fresh FM.

He assured there ws no cause for worry for the subscribers and workers of the company. He, however, did not disclose the names of the foreign firms.

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Mubadallah pulled out of Nigeria this month over unresolved issues on loans by a consortium of commercial banks.

According to Shittu, the Federal Government intervened in the loan crisis rocking the company, in order to prevent it from closing down with the attendant negative implications.

The Minister said thousands of direct and indirect jobs would have been lost, while investors’ confidence would have been lost.