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/

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?

Please anyone dah says everything isn't about money should be stoned to death !

Him luck

Nigeria is talking over African economy by storm.

Good move.

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.

importexpert:
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.

Well in large scale business you do things in parallel. I do agree, Glo needs to do more to take hold of Nigeria market.

importexpert:
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.

You're right.

importexpert:
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.

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.

Expansion of empire.

Tolexander:
the business isn't like that.

The venturing into other places doesn't really affect the upgrading of Nigeria service. 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.

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.

PhockPhockMan:


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.

I agree with you

MTN is now going finally...

Some brands I can't deal with...MTN, DSTv, Nokia

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

wao



carry go I wish u luck

IBB loots growing wings

Good to know

Go for it

Thats a good move. I pray it works out just fine. I love Glo.

Good for him... making Nigeria proud. Globacom would soon be a west african company...

Money is speaking!

c

I know I'll surely be richer than these people.
#The most high has signed it

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.

Money speaking speaking...

money must be made legal or illegal

This is naija money talking

Keneking:
MTN is now going finally...

Some brands I can't deal with...MTN, DSTv, Nokia

Unfortunately for you, they're the undisputed champions in their various sectors.

ok

Glo never cover everywhere sef for Bongo