Nigeria: Etisalat May Change Brand As NCC Writes Access Bank Over Debt

Etisalat Nigeria may change its brand if it secures new investors over the $1.2 billion debt impasse.According to information gathered by The Guardian, Etisalat Nigeria is billed to undergo a transition period while it works with the banks to secure new investors.

With new investors coming, there is a possibility of a change in brand but this will become clear once the restructuring has been concluded. Etisalat, in a fact sheet made available, explained that the recent announcement by the Group is to the effect that they are transferring their shares in Etisalat Nigeria to a security trustee who will hold the shares on behalf of the consortium. It explained that the security trustee is the vehicle employed by the banks to hold the shares on behalf of the consortium.

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