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.
This is happening after 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 to provide technical
support, adding that it can use the brand for another three weeks before
phasing it out.
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