Nigerian telecommunications firm, 9mobile, has rebranded to T2, with the announcement made on Friday at the Eko Convention Centre in Lagos. This follows LH Telecommunication Limited’s acquisition of a 95.5 percent stake in 9mobile's parent company Emerging Markets Telecommunication Services Limited (EMTS), for up to US$750.0 million, finalized in 2024.
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The acquisition, backed by the African Export-Import Bank (Afreximbank), 9mobile’s senior lender in May 2023, led to a change in control through the issuance of new shares representing 95.5 percent of the company to LH Telecommunication in exchange for fresh capital investment.
Lighthouse Capital NG served as the financial adviser for the capital raise and acquisition of the significant stake in 9mobile/EMTS by LH Telecommunication. OAKE Legal advised LH Telecommunication Limited on securing a controlling interest in EMTS
This marks the second name change for the company, which previously rebranded from Etisalat to 9mobile in 2017. Post-acquisition, 9mobile has implemented major changes, including forming a new board, appointing new executive leadership, and entering a strategic infrastructure-sharing agreement with MTN Nigeria to enhance network coverage.
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