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.
Nigerian regulators intervened last week to save the telecom company
from collapse after talks with its lenders to renegotiate a $1.2 billion
loan failed.
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 to provide technical support,
adding that it can use the brand for another three weeks before phasing
it out.
Etisalat pulls out of Nigeria, issues ultimatum for name change
Reviewed by
Asaph Mic
on
19:57:00
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Reviewed by
Asaph Mic
on
19:57:00
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