Thursday, 7 May 2015

Nigerian billionaire Mike Adenuga has made a bid of $600m to buy Ivorian mobile telecoms operator Comium Cote d’Ivoire.

The second richest man in Nigeria and owner of Globacom ‘Mike Adenuga‘  has offered $600m for Ivorian mobile phone company. According to Forbes, his NET worth is approximately $4.7 billion.
His sole purpose of doing this is expanding his brand across West Africa.
Already, the mobile telecoms operator has operations in Nigeria, Ghana and Benin Republic. Globacom, which already owns an international carrier services licence in Cote d’Ivoire, reportedly plans to invest over $1 billion in upgrading Comium-CI’s network over three years.
According to Telegeography, Globacom, a Nigerian mobile telecoms operator owned by Adenuga, is lodging a $600 million takeover bid for Comium Cote d’Ivoire, a company that has been grappling with debt and cash flow problems.
Comium CI has more than 900,000 mobile subscribers according to L’Autorite de Regulation des Telecommunications. It is a subsidiary of Comium Group, a Lebanon-based telecommunications company owned by Lebanese businessman Nizar Dalloul. The group operates as a multi-service provider on four continents, specializing in Wireless Data Networks, GSM communications, Internet service provision and VoIP. Comium CI is heavily enmeshed in debt to the tune of more than $25 million and has been given until 15 May to pay off its debts or risk being placed into receivership.
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1 comment:

  1. Is good , if globacom can spreed it tentacles to cote d'lvoire.