There are indications that MTN Nigeria is seriously eyeing stakes in its competitor, 9mobile.

According to information gathered on Tuesday, barring any last-minute change, MTN Nigeria and Emerging Markets Telecommunications Service Limited (EMTS), trading as 9mobile in Nigeria are in advanced stage of spectrum trade negotiations as a viable option for closing a telecoms deal.

Technology Times reports that the spectrum trade option is being considered to revive the ailing 9mobile after the telecommunications firm fell on hard times in the wake of the exit of its key technical partner and investors, Mubadala of United Arab Emirate (UAE) in 2017.

While the spokesperson for 9mobile, Chinese Amanfo didnt pick her call to confirm the authenticity of the story, however, a source in MTN told The Guardian that the deal is serious and very much on between the two telecommunications firm.

According to the source, the deal is on between the two firms. MTN will start with the spectrum and you know the implication of that. Spectrum is the life wire of any telecoms firm. It is still unfolding and more developments would be revealed in the coming weeks.

However, a very close source to 9mobile, who spoke with The Guardian, also on anonymity, said there was no substance in the news flying up and down in the media.

If you read the story very well, you will see that it is disjointed. One place, it talks about spectrum, another MNVO, later Globacom COO. I believe strongly that if 9mobile wants to sell stakes to MTN, the management would come out clear and straight about. There is absolute no direction in the story currently making the round in the media, he stated. (The Guardian)