9Mobile, Emerging Markets Telecommunication Services Limited, has been acquired by LH Telecommunication Limited, a UK-based company.
A statement issued on Sunday by the telco revealed that the acquisition of majority shares in the telco was approved by the Nigerian Communications Commission (NCC) and the Federal Competition and Consumer Protection Commission (FCCPC) as required by law.
Read also: 9mobile gears up for new phase of business transformation
The telco has constituted a new board as it prepares for life under its new owner. This is happening after the telco recently appointed Obafemi Banigbe as its Chief Executive Officer. Sources at the time attributed Banigbe to an indication of fresh investment into the struggling telco.
Details later…
