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.
Reuters.
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