Bua Group, Virgin Mobile and Vodacom are among companies who have expressed interest in acquiring Etisalat Nigeria (now officially 9mobile), according to a recent report by This Day.

According to the report, the three companies were already making plans to submit their memoranda of interest and technical presentations to a consortium of banks. 9Mobile has been a victim of the dollar shortages plaguing Nigeria, due to low oil prices and an economic recession, which have made the company struggle to make repayments to lenders. In June, parent company, Etisalat, terminated its management agreement with the Nigerian unit and gave up its 45% stake to a trustee.

Last week the CEO of 9mobile, Boye Olusanya, told Reuters that the telecoms firm is open to new investors but will continue to manage the business for the time being. Virgin Mobile is reportedly supported by several former MTN Nigeria executives. This is probably due to the rivalry between Vodacom and MTN.

There are strong indications that Bharti Airtel will also emerged as a potential bidder for 9mobile, as the Indian company is looking to boost its assets in the country.

Anita Fatunji