Barclays Africa is examining takeover bids from five prospective buyers for debt-laden 9mobile, two banking sources have said. They, however, said that a deal might take a few months as it would involve restructuring the company’s debt after a default last year. Barclays Africa, appointed by local banks to try to find new investors for 9mobile, will make a recommendation to the telecom company later, according to a Reuters report. Another source said 9mobile’s board and its advisers, regulators and lenders witnessed the bid opening. They were given access to the management and site visits,” the second source said, without naming the bidders.

Source: Punch January 26, 2018 02:48 UTC