Etisalat quits Nigeria, gives 3 weeks to phase out

Etisalat has reportedly terminated its management agreement with Etisalat Nigeria, giving three weeks to phase out the brand in the country.

The Abu Dhabi-owned telecommunications networks took the decision after it’s $1.7 billion loan talks collapsed, Punch reports.

Chief executive of Etisalat International, Hatem Dowidar said on Monday that the there was no need for the brand in Nigeria after the collapse of the loan talks.

Etisalat International, therefore, announced on Monday that it was pulling out as all UAE shareholders of the company have exited and left the board and management of the Nigerian arm.

[Read Also:] Etisalat Nigeria resolves $1.2bn indebtedness with banks

Dowidar 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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