An Abuja Division of the Federal High Court has voided the sale of Emerging Markets Telecommunication Services Ltd , managers of 9mobile to Teleology Nigeria limited.
The judgement followed an application by investors in the Telecommunications Company namely – Afdin Ventures Limited and Dirbia Nigeria Limited – who had approached the court after they alleged that decisions were taken without their due involvement The term, res, in law refers to a movable property, which may include company interest or status that has formed the subject of a given litigation in a court of law.
“The Management of Emerging Markets Telecommunication Services Ltd. is aware of the news publication being circulated on online news platforms that the Federal High Court sitting in Abuja has nullified the sale of EMTS to Teleology Nigeria Limited. EMTS hereby states that these news reports are incorrect, misleading, mischievous and a total falsehood.
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