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Copyright 2009 Odu’a Telecoms Ltd.
O’NET Communications, the telecommunications subsidiary of the
Odu’a investment Company Limited, on Tuesday, in Ibadan, Oyo
State, signed a partnership agreement with Princeton Telecoms, a
New Jersey, United States-based telecoms company.
The signed of the agreement ended months of intensive search for
external investor to help shore up the fortunes of the CDMA operator
in a competitive telecoms sector of the economy. The event was
witnessed by representatives of the two companies as well as the
top echelon of the management of the Odu’a investment Company;
led by its Chairman, board of directors, Prince Julius Adelusi-Adeluyi.
Others included the Group Managing Director, Mr. Adebayo Jimoh
and the Chief Executive Officer of O’NET, Mr. Kesavan Madhavarao,
while Princeton Telecoms’ representative was led by Mr. Steve Lovett.
Speaking at the occasion, Prince Adelusi-Adeluyi and the partnership
with Princeton Telecoms was an approach to retool the company, to
make its activities more profitable.
He said that he hoped O’net would be able to compete favorably with
all others telecoms operators in the country. Mr. Lovett, speaking at
the occasion, said though the partnership was not a takeover or
acquisition, Princeton would have majority control of the company.
He said the object of the agreement was to reposition O’net so that
stakeholders would have equitable share in the company
O’Net & Princeton Telecoms Agreement
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