Trouble brews as court quashes sale of Etisalat (9Mobile) to Teleology

A Federal High Court in Abuja has nullified the sale of Etisalat International Nigeria Limited (9mobile), one of the biggest telecommunication companies in the country to Teleology Nigeria Limited.

Justice Binta Nyako, according to The Nation, voided all steps taken in relation to the exchange of ownership of Etisalat despite pending orders for maintenance of status quo, restraining parties to a suit, involving investors and other stakeholders in the company, from destroying the res (subject matter).

Justice Nyako, who noted that parties were all aware of the existence of the suit, the defendants having been served between April 24 and 27, 2018 with the originating process, faulted the sale, as claimed by the plaintiffs in a motion filed on November 16, 2018 The judge held: “Any action that has been taken concerning the rest of this litigation from the 25th day of April, which is earlier in time, should revert to the position, as of the res, to its 25th day of April 2018.” Details later:Vanguard