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

nigerian take debt telecommunications company n541bn etisalat banks

Nigerian Banks Take Over Telecommunications Company Etisalat Over N541bn Debt
The future of Etisalat Nigeria is becoming quite unsure as a groupof Nigerian banks have taken over the company after it (Etisalat) failed to repay loans amounting to N541 billion. The telco announcing a share restructuring on Tuesday.

Etisalat had obtained loans from 13 banks, including Guaranty Trust Bank, Access Bank, Zenith Bank, UBA, Fidelity Bank and First Bank.

According to CableNg, The loan was meant to refinance an existing commercial medium-term debt of $650 million and continue its network rollout across the country.

It seems the attempts by the Central Bank Of Nigeria and the Nigerian Communications Commission to prevent the take-over have proved abortive.

Etisalat dun buy market


Possibly Related Threads...
ThreadAuthor Replies Views Last Post
  Brian Acton, Co-founder Of Whatsapp To Leave Company For His Own Foundation Plus 0 112 09-13-2017, 12:16 PM
Last Post: Plus
  Important Thing You Need To Know About The 9mobile(etisalat) Free 1gb Cliq4dnite Data rockbaze 0 164 08-29-2017, 01:18 PM
Last Post: rockbaze
  Surfwella To Launch Free Wi-fi In All Nigerian Universities Beginning From Today Plus 3 128 08-11-2017, 11:12 PM
Last Post: patrick
  How To Stop Mtn, Glo, Airtel And Etisalat Auto Renewal On Phone patrick 0 104 07-19-2017, 09:40 AM
Last Post: patrick
  Etisalat Confirms Changing Name To 9mobileng Plus 1 86 07-18-2017, 06:31 PM
Last Post: Pedro
  9mobile Is Etisalat Nigeria's New Name patrick 0 137 07-14-2017, 08:22 AM
Last Post: patrick
  Etisalat Nigeria Releases Statement Over Change Of Brand Name patrick 0 92 07-12-2017, 01:27 PM
Last Post: patrick
  Globacom Owner, Adenuga To Acquire Etisalat patrick 1 104 06-24-2017, 04:45 PM
Last Post: hemelse

Users browsing this thread:
2 Guest(s)

List of Users who browsed this thread: tallmoney
Nigerian Banks Take Over Telecommunications Company Etisalat Over N541bn Debt00