Connect with us

Business

Breaking! Telecom Company, Etisalat Finally Pulls Out Of Nigeria, Issues Ultimatum For Name Change

Published

on

Nigerian regulators interveria from collapse after talks with its lenders to renegotiate a $1.2 billion loan failed.

Loading...

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

Similar Posts:

Loading...

David Chris is writer and a staff at Ngyab.com. He is also an internet guru who who loves reading and making new friends

Click to comment

Leave a Reply

Your email address will not be published.

Copyright © 2016 -2018 NGYAB.COM