The current financial challenges facing 9Mobile are reminiscent of what befell Mobitel in 2005, but the latter could not survive the storm because of the system applied by the lenders in recovering the loan.
Etisalat Nigeria, last week, was compelled to change its brand identity to 9Mobile, following the collapse of negotiations with its lenders, after its failure to repay the $1.2 billion loan it took from a consortium of 13 local banks in 2013 for network upgrade and expansion.
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