Subscribers of 9mobile, are waxing worriedly as confusion trails the reported pulling out of Teleology Holdings from local telco.
News broke early this week that Adrian Wood, former chief executive of MTN led Teleology Holdings is considering pulling out of 9Mobile due to delays in effecting important contractual agreements by the local partner, Teleology Nigeria.
There is no official statement from Teleology Holdings but the reported decision is coming about two months after it received approval to take over operations of 9mobile as the preferred bidder.
Teleology Holdings and Teleology Nigeria, its local partner appear to be locked in a battle.
Unconfirmed reports said that while Teleology Holdings is accusing the local partners of blocking it from concluding a management services contract, the local partner was short of calling the international arm a fraud, saying it does not want to abide by due processes and standards of operation.
Teleology Holdings said that the management services contract would have enabled it and its team of experts oversee the implementation of the organisation’s elaborate business plans including funding proposals, had the local partner straightened its acts.
It said the decision to pull out of the 9mobile deal was because it doesn’t appear the local partners were sincere in the whole project.
However, the local partner, Teleology Nigeria retorted by saying that some of the practices the international arm wanted to introduce to the business were unbecoming, hence the willingness to see Teleology Holding adjust to standard practices or quit willingly.
Teleology Holdings holds about 13 percent shareholding in 9Mobile.
9Mobile in real sense is owned by Teleology Nigeria Limited which is a fully registered indigenous company.