After series of meeting on talks cornering loans with lenders for renegotiation.
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.
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.
He
said discussions were ongoing with Etisalat Nigeria to provide
technical support, adding that it can use the brand for another
three-weeks before phasing it out.
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