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Etisalat Quits Nigeria

These are not the best of times for Etisalat Nigeria as 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. This is what the chief executive of Etisalat International, Hatem Dowidar told Reuters on Monday 10th July, 2017.

Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate a $1.2 billion loan failed.

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All UAE shareholders of Etisalat Nigeria have left the company, 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, Reuters reports