Nigerian Banks Take Over Etisalat Mobile Operator Over Debt
A consortium of banks will take over Etisalat Nigeria after the parties failed to reach a deal over a debt restructuring. The U.S.$1.2 billion loan was for the mobile telephone operator to finance a major network rehabilitation and expansion of its operational base in Nigeria.
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Nigeria:
$1.2 Billion Debt - Access Bank, Others Take Over Etisalat
Leadership, 21 June 2017
Emerging Markets Telecommunication Services Limited, trading as Etisalat Nigeria, yesterday commenced restructuring with changes to its shareholding as a consortium of banks led by… Read more »
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Nigeria:
13 Banks Force Foreign Investors Out of Etisalat
Vanguard, 21 June 2017
Pressures from 13 Nigerian banks and their overseas partners have forced the exit of the foreign investors in Etisalat Nigeria, just as the creditor banks move to formally take… Read more »
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Nigeria:
Etisalat Nigeria Crisis - NCC Assures Subscribers of Network Integrity
Premium Times, 20 June 2017
Following the ongoing process by a consortium of banks, led by Access Bank, to take over Etisalat Nigeria over failed debt repayment talks, the Nigerian Communications Commission,… Read more »
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Nigeria:
Etisalat Writes Staff, Assures Them After Takeover
Premium Times, 20 June 2017
Etisalat Nigeria sought to reassure its apparently distraught workers Tuesday after talks with its lenders broke down, leading to the telecoms company being taken over by banks. Read more »
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Nigeria:
Etisalat Nigeria Taken Over By Access Bank, Others
Vanguard, 20 June 2017
Some banks have now taken over the management of telecommunication company, Etisalat Nigeria. Read more »
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Nigeria:
Banks Take Over Etisalat Nigeria Over Debt
Premium Times, 20 June 2017
A consortium of banks, led by Access Bank PLC and other Nigerian and foreign banks, has taken over the management of Etisalat Nigeria, effective June 15. Read more »
An Etisalat Office
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Nigeria:
Etisalat Remains Resilient Despite Challenges
Guardian, 20 June 2017
That Nigeria is a challenging environment despite its large and ever growing population, which serves as a big market opportunity for prospective investors is no more a news, but… Read more »
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Nigeria:
Troubled Etisalat 'Considering Options'
Premium Times, 17 June 2017
Hinting at its resolve to carry on without its majority shareholder, Mubadala Development Company Limited, Etisalat Nigeria management said on Friday its immediate focus was to… Read more »
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Nigeria:
Etisalat Nigeria's Troubles Worsen As Largest Shareholder Pulls Out
Premium Times, 15 June 2017
Etisalat Nigeria Limited, Nigeria's fourth largest telecommunication firm, appears to be swimming deeper in troubled waters as Mubadala Development Company of United Arab Emirates,… Read more »
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Nigeria:
No Response From Our Lenders On Payment Plans - Etisalat
Daily Trust, 12 June 2017
Etisalat has said it has not received any response on its payment proposal it tendered to lenders. Read more »
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Nigeria:
Etisalat, Glo, Airtel Owe Govt Billions of Naira in Levies - Nitda DG
Daily Trust, 7 June 2017
Etisalat, Globacom and Airtel Nigeria Limited may be owing the National Information Technology Development Agency (NITDA) millions of naira as part of their mandatory levies from… Read more »
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Nigeria:
Etisalat - No Conclusion With the Banks On Debt Repayment
This Day, 6 June 2017
Few weeks after Mubadala, which owns 40 per cent investment in Etisalat Group visited Nigeria and met with the Central Bank of Nigeria (CBN) and the 13 local banks over the $1.2… Read more »
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Nigeria:
Etisalat 'Still in Talks' With Lending Banks
Premium Times, 6 June 2017
Mobile telecoms operator, Etisalat Nigeria, on Monday said it was still in talks with its lenders over a $1.2 billion (about N541.8 billion) loan. Read more »