0
Wireless

Banks took over Etisalat Nigeria management 15 June - report

Wednesday 21 June 2017 | 10:27 CET | News
Some banks have now taken over the management of Etisalat Nigeria, reports Vanguard. The banks, led by Access Bank and other local and foreign banks, took it over with effect from 15 June, it said. This follows a failed effort by Emerging Markets Telecommunications Services (EMTS), promoted by-one time United Bank for Africa (UBA) chairman Hakeem Bello-Osagie, to reach an agreement with the banks to restructure USD 1.72 billion in debt.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: Etisalat Nigeria
Countries: Nigeria
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

EMTS says talks underway to continue with Etisalat brand

Published 11 Jul 2017 17:31 CET | Nigeria
Emerging Markets Telecommunication Services (EMTS), trading as Etisalat Nigeria, said it is aware of recent news reports ...

ALTON opposes state bailout for Etisalat Nigeria

Published 04 Jul 2017 11:08 CET | Nigeria
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) has ruled out the bailout option for Etisalat, which ...

Etisalat Nigeria CEO, CFO resign amid crisis

Published 04 Jul 2017 09:27 CET | Nigeria
Etisalat Nigeria's CEO Matthew Willsher, and chief financial officer (CFO), Wole Obasunloye have resigned deepening the crisis ...

Mubadala, Etisalat directors may face charges – report

Published 27 Jun 2017 10:48 CET | Nigeria
A banking consortium owed by Mubadala Group and Etisalat Group may be planning to press criminal charges of reckless and ...

UAE's Mubadala pulls out of Etisalat Nigeria

Published 27 Jun 2017 10:40 CET | Nigeria
The Abu Dhabi state investment fund Mubadala has pulled out of Etisalat Nigeria after the telecoms firm failed to reach a deal ...

Etisalat Nigeria repaid 42% of loan before default

Published 23 Jun 2017 14:03 CET | Nigeria
Etisalat Nigeria had already repaid USD 500 million of USD 1.2 billion in loans owed to banks before it defaulted in February ...

NCC says Etisalat licence cannot be transferred to banks

Published 21 Jun 2017 10:48 CET | Nigeria
The Nigerian Communications Commission (NCC) has told the consortium of banks to which it Etisalat owes USD 1.2 million that ...

Etisalat Nigeria tries to reassure workers after takeover

Published 21 Jun 2017 10:37 CET | Nigeria
Etisalat Nigeria has sought to reassure its workers after talks with its lenders broke down, leading to the company being taken ...

Etisalat hands Nigerian stake to trustee as debt talks fail

Published 21 Jun 2017 09:22 CET | Nigeria
UAE-based operator Etisalat Group has been instructed to transfer its 45 percent stake in Etisalat Nigeria to a loan trustee ...

Etisalat Nigeria says bank loan talks are at advanced stage

Published 19 Jun 2017 10:40 CET | Nigeria
Etisalat Nigeria has asserted once again that talks on the 2013 syndicated loan agreement with its banks are at an advanced ...

Mubadala asserts continued support for Etisalat Nigeria

Published 19 Jun 2017 10:27 CET | Nigeria
Etisalat Nigeria is working with its lenders and Abu Dhabi state investment fund Mubadala to resolve debt difficulties that it ...

Etisalat Nigeria main shareholder pulls out - report

Published 16 Jun 2017 09:05 CET | Nigeria
Etisalat Nigeria's main shareholder, Mubadala Development Company of the UAE, has pulled out its investment and headed out of the ...





Calendar   /   Industry Events

25 Jan Ericsson Q4 2021
25 Jan F5 fiscal Q1
25 Jan Verizon Q4 2021
25 Jan Microsoft fiscal Q2
25 Jan Uniti Group Q4
25 Jan European 5G Conference
26 Jan AT&T Q4 2021
26 Jan Corning Q4 2021
26 Jan Intel Q4 2021
26 Jan Calix Q4 2021
26 Jan Crown Castle Q4 2021
27 Jan Extreme Networks fiscal Q2
27 Jan Elisa Q4 2021
27 Jan Apple fiscal Q1
27 Jan Juniper Networks Q4 2021
27 Jan STMicroelectronics Q4 2021
27 Jan Samsung Electronics Q4 2021
27 Jan MTN Nigeria Q4 2021
27 Jan Rogers Communications Q4 2021
27 Jan Comcast Q4 2021
27 Jan FCC meeting
28 Jan SK Hynix Q4
28 Jan Charter Communications Q4
28 Jan Telia Lithuania Q4 2021
28 Jan Telia Company Q4 2021
31 Jan KPN Q4 2021
31 Jan Cirrus Logic Q3
31 Jan NXP Semiconductors Q4 2021
31 Jan NEC fiscal Q3
31 Jan Harmonic Q4
::: More Calendar Items