Monday, July 10, 2017

Etisalat Pulls Out Of Nigeria, Issues Ultimatum For Name Change!!

Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate a $1.2 billion loan failed.

Abu Dhabi’s Etisalat has terminated its management agreement with its Nigerian arm and given the business time to phase out the brand in Nigeria, the chief executive of Etisalat International told Reuters on Monday.

All UAE shareholders of Etisalat Nigeria have exited the company and have left the board and management, Hatem Dowidar said in an interview.

Dowidar said discussions were ongoing with Etisalat Nigeria to provide technical support, adding that it can use the brand for another three weeks before phasing it out.

No comments:

Post a Comment

Y'all read and don't drop comments, how do y'all close those eyes of yours and sleep @night? Lol.. You have a voice, LET IT COUNT, use this platform to air your views.. Don't be a reader only, pls be a contributor, lol. Thanks for visiting, hope to see more of you.. XXX