Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

[-]
Tags
to owner globacom acquire adenuga etisalat

Globacom Owner, Adenuga To Acquire Etisalat
#1
It isn’t alien anymore that our dear Etisalat is engrossed in a huge debt to some banks, which nearly led to a hostile takeover if not for the intervention of the Nigerian Communications Commission and the Central Bank of Nigeria.

However, it seems someone else is about to take advantage of the situation as reports emerged that Globacom Chairman and one of Nigeria’s billionaires, Dr. Mike Adenuga, is already making moves to acquire Etisalat.

According to a former management staff of Etisalat, he said that “With the ongoing financial challenges facing Etisalat, there are ongoing underground discussions of its possible sale to a Nigerian GSM company owner, who is also into an oil business and this could be Mr. Mike Adenuga of Globacom,”

Another source in the industry also made clear that “Etisalat could be acquired by another company if the ongoing discussions with the banks fall through eventually.”

It should be note however that the net worth of Adenuga is pegged at $10billion according to Forbes. He currently ranks as the 103rd richest person in the world compared to 2015’s 393rd and a net worth of $4.2 billion, this is despite the effect of the dwindling oil prices on his company.

The management of Etisalat has also feigned ignorance of the story as Vice President for Regulatory Affairs at Etisalat Nigeria, Mr. Ibrahim Dikko, said acquisition.” “I am just getting to know now that you are telling me.

Raising eyebrows is the rate at which the coming is losing customers, as there were 22.5 million active subscribers on Etisalat network, but this figure dropped to 20.8 million by December, representing a loss of 1.7 million subscribers within three months.

Similarly, in the first quarter of this year, the telecom communication company lost 1.2 million subscribers as well.
#2
Can't believe Etisalat can go bankrupt
  


Possibly Related Threads...
ThreadAuthor Replies Views Last Post
  Important Thing You Need To Know About The 9mobile(etisalat) Free 1gb Cliq4dnite Data rockbaze 0 114 08-29-2017, 01:18 PM
Last Post: rockbaze
  How To Stop Mtn, Glo, Airtel And Etisalat Auto Renewal On Phone patrick 0 64 07-19-2017, 09:40 AM
Last Post: patrick
  Etisalat Confirms Changing Name To 9mobileng Plus 1 64 07-18-2017, 06:31 PM
Last Post: Pedro
  9mobile Is Etisalat Nigeria's New Name patrick 0 103 07-14-2017, 08:22 AM
Last Post: patrick
  Etisalat Nigeria Releases Statement Over Change Of Brand Name patrick 0 53 07-12-2017, 01:27 PM
Last Post: patrick
  SHARED: Etisalat, Glo Free Browsing Not Working? Download Stark Vpn V4.0 SkyLord 2 171 06-24-2017, 01:12 PM
Last Post: Pedro
  Nigerian Banks Take Over Telecommunications Company Etisalat Over N541bn Debt patrick 1 128 06-22-2017, 10:28 AM
Last Post: James
  HOT: Etisalat Bonus Offer: Recharge N200 and Get N4000 Bonus Instantly hemelse 0 108 06-18-2017, 08:51 AM
Last Post: hemelse



Users browsing this thread:
1 Guest(s)

List of Users who browsed this thread:
Globacom Owner, Adenuga To Acquire Etisalat00