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Nairaland Forum / Nairaland / General / Business / Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. (20003 Views)
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Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by PhockPhockMan: 11:40am On May 05, 2015 |
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. If the deal goes through, Globacom will have succeeded in extending its brand presence in 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. 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. Mike Adenuga, 63, is the 2nd richest man in Nigeria with a fortune estimated at $4.7 billion according to FORBES’ World Billionaires ranking. He owes his fortune to his ownership of Nigerian mobile telecoms outfit Globacom, and Conoil Producing, a Nigerian oil exploration firm that operates 6 oil blocks in the Niger Delta. http://www.vanguardngr.com/2015/05/nigerian-billionaire-mike-adenuga-offers-600-million-for-ivorian-mobile-phone-company/ 8 Likes 4 Shares |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by micktoxin(m): 11:41am On May 05, 2015 |
Great to see Nigerians making waves. Glo needs to do more to win the Naija market tho. How about investing more in infrastructures Mr Mike Adenuga? 15 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by davidayn(m): 11:41am On May 05, 2015 |
Please anyone dah says everything isn't about money should be stoned to death ! 10 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by mannyU: 11:43am On May 05, 2015 |
Him luck ![]() |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by PhockPhockMan: 11:45am On May 05, 2015 |
Nigeria is talking over African economy by storm. Good move. 6 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by importexpert(m): 11:47am On May 05, 2015 |
This is our problem. Glo currently has 1 of the worst network in nigeria. Instead of perfecting their services in areas they hv occupied they r xpending. 19 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by micktoxin(m): 11:51am On May 05, 2015 |
importexpert:Well in large scale business you do things in parallel. I do agree, Glo needs to do more to take hold of Nigeria market. 7 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by PhockPhockMan: 12:21pm On May 05, 2015 |
importexpert:You're right. 1 Like 1 Share |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Tolexander: 12:58pm On May 05, 2015 |
importexpert:the business isn't like that. The venturing into other places won't really affect the upgrading of Nigeria service but improve through acquired revenue. It is a strategic way of expanding ones market. If he upgrades his service here, the effect will be negligible cos of the competition. MTN, Etisalat et al will also do the upgrading to annul the effect. Comium already has a customers of about 900,000, which is good to go for an investment. As a businessman, it pays him. 16 Likes 3 Shares |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by tunwumi: 1:08pm On May 05, 2015 |
Expansion of empire. |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by PhockPhockMan: 1:44pm On May 05, 2015 |
Tolexander: That was the same thing MTN face in south Africa, while Vodacom was dominating the sector, they came to Nigeria to acquire operating license, today, they're Africa's number one. 12 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Umunede(m): 1:57pm On May 05, 2015 |
PhockPhockMan:I agree with you 2 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Nobody: 2:01pm On May 05, 2015 |
MTN is now going finally... Some brands I can't deal with...MTN, DSTv, Nokia 1 Like 1 Share |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by naijainfogalery: 2:02pm On May 05, 2015 |
Wow i love when Billionaires Speak imagine the headlines Dangote considering buying Arsernal - Chai Adenuga offers $600 million for Ivorian telecom company - God bless my hustle and make my money work for me while i sleep. I love Success stories, I love when Billionaires speak Now some poverty striken people will come here ranting, work hard be rich and stop hating 21 Likes 2 Shares |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by jamex93(m): 2:02pm On May 05, 2015 |
wao carry go I wish u luck 1 Like |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Nobody: 2:02pm On May 05, 2015 |
IBB loots growing wings |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by okooloyun1(m): 2:03pm On May 05, 2015 |
Good to know |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Nobody: 2:03pm On May 05, 2015 |
Go for it 1 Like |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Dcaliphate(m): 2:03pm On May 05, 2015 |
Thats a good move. I pray it works out just fine. I love Glo. 1 Like |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Nobody: 2:04pm On May 05, 2015 |
Good for him... making Nigeria proud. Globacom would soon be a west african company... 1 Like |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by MrBasketball: 2:04pm On May 05, 2015 |
Money is speaking! |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by boman2014: 2:06pm On May 05, 2015 |
c |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Bosville(m): 2:06pm On May 05, 2015 |
I know I'll surely be richer than these people. #The most high has signed it 2 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by FFKfuckedBIANCA: 2:06pm On May 05, 2015 |
Micheal Adeniyi Agbolade Ishola Adenuga, the Ijebu-Igbo people are proud of you, the Ijebu's are proud of you, the Yoruba's are proud of you, Nigeria is proud of you .... Make sure you employ a lot of Nigerian youth when you eventually clinch this investment in Ivory Coast. 7 Likes |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by mrofficial(m): 2:06pm On May 05, 2015 |
PhockPhockMan: Same with Shoprite. |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Nten: 2:07pm On May 05, 2015 |
Money speaking speaking... |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by Hollawaley(m): 2:07pm On May 05, 2015 |
money must be made legal or illegal |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by uanda(m): 2:09pm On May 05, 2015 |
This is naija money talking |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by PhockPhockMan: 2:11pm On May 05, 2015 |
Keneking: Unfortunately for you, they're the undisputed champions in their various sectors. 1 Like |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by money121(m): 2:13pm On May 05, 2015 |
ok |
Re: Nigerian Billionaire Mike Adenuga Offers $600m For Ivorian Mobile Phone Company. by thefakestan: 2:16pm On May 05, 2015 |
Glo never cover everywhere sef for Bongo |
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