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Monday, 10 July 2017

UPDATE 1-Etisalat to exit Nigeria after regulators intervene | Reuters

UPDATE 1-Etisalat to exit Nigeria after regulators intervene | Reuters:

"Telecoms group Etisalat has terminated a management agreement with its Nigerian arm and given the business time to phase out the Etisalat 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.

Etisalat, with a 45 percent stake in the Nigerian business, said in June it had been ordered to transfer its shares to a loan trustee after the talks had failed."



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