Tuesday, July 11, 2017
Video - Etisalat to phase out brand in Nigeria
Abu Dhabi's Etisalat has terminated its management agreement with its Nigerian arm and given the business time to phase out the brand in the country. This, after Nigerian regulators intervened 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. Discussion between Etisalat International and its Nigerian arm are now ongoing to provide technical support for another 3 weeks before phasing it out.