Abu Dhabi Etisalat dey pull out of Nigeria after the intervention by Nigerian regulators to save Etisalat Nigeria fail.
All UAE shareholders of Etisalat Nigeria don leave the board and management of the company.
Discussions still dey between the UAE shareholders and Etisalat Nigeria to provide technical support. Etisalat Nigeria dey allowed to use the Etisalat brand but only for the next three weeks before e go phase out.
See how dey report am:
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 yarn for one interview.
He say discussions stil dey ongoing with Etisalat Nigeria to provide technical support, say dem fit use the brand for another three-weeks before e phase out.
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