Nigeria’s financial and telecoms regulator said it agreed on Friday with local banks to end the prospect of receivership for mobile operator Etisalat Nigeria, which has missed a payment on a $1.2 billion loan. A banking source told Reuters on Wednesday that the Nigerian affiliate of Abu Dhabi-listed telecoms company Etisalat had given notice to […]
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The Nigeria Communication Commission on Thursday said the Commission and Central Bank of Nigeria had moved to intervene in the Etisalat loan issue. The Director of Public Affairs of NCC, Mr Tony Ojobo, in a statement issued in Abuja, said, “After a meeting on Thursday afternoon in Abuja between the Executive Vice Chairman of NCC, […]
Read More Global Systems Mobile Communication (GSM) service provider Etisalat is locked in discussions with its creditors who are battling to recover a $1billion loan. In the talks are three banks – Zenith Bank, Access Bank and Guaranty Trust Bank—which advanced the telco the loan about two years ago. A large portion of the loan, which was […]
Read More Despite the intervention of the Nigerian Communication Commission, NCC, to broker a peaceful resolution between Etisalat Nigeria and a consortium of banks, it appears the effort may not have yielded a truce, as the banks are set to take over the telecoms firm today, this is according to PREMIUM TIMES report. The consortium of some […]
Read More ETISALAT Nigeria’s Director for Channel Sales, Victor Nwaobia, says that the telecoms company places a lot of value on its partners whose roles are critical to the success of the business. He spoke at the company’s exclusive business conference and gala night for its crème of channel partners. Nwaobia said, “It is part of the […]
Read More ETISALAT Group reported a 3.95 per cent fall in preliminary full-year profit to Dh8.26 billion compared to Dh8.60 billion due to slower regional economic growth. The company, which operates in Nigeria and 17 markets across the Middle East, Asia and Africa, reported a 6.61 per cent increase in full-year revenues to Dh51.72 billion compared to […]
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The United Arab Emirate (UAE)-based telecoms operator, Etisalat is looking forward to raising a $2 billion loan as the telecommunications firm seeks funding amid a shift in Gulf loan markets. It joins a flurry of regional companies seeking to secure funding before a likely rise in United States (U.S.) interest rates pushes up borrowing rates, […]
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