The advisor selected for the sale of 9mobile, Barclays Bank, has announced it has selected Teleology Holdings Ltd. A letter confirming to the company that it is the preferred bidder for the divestiture transaction initiated since October 2017, was sent on February 21, 2018.
According to reports, Teleology Holdings Limited is one of two companies that ultimately filed a financial offer, among the five companies retained by Barclays Bank for the final phase of the acquisition of 9mobile. Teleology Holdings Limited had offered nearly 500 million US dollars. Smile Holdings Limited, the second company to submit a financial offer for 9mobile, had offered nearly 300 million US dollars.
In the letter sent to Teleology Holdings Limited, representing the official document that terminates the sale of 9mobile, it is asked to pay a non-refundable deposit of US$50 million within 21 days, starting on February 2018. In the event of default of payment, the reserve buyer is Smile Holdings Limited.
