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Tag Archives: Etisalat

Belo-Osagie’s resignation opens new Etisalat’s debt liabilities to contractors

NCC Etisalat

Barely few hours after the resignation of the Chairman of Etisalat, Mr. Hakeem Belo-Osagie, another round of debt profile owed contractors has raised its head in the telecoms company. Otherwise, Etisalat will not be battling only the $1.2bn debt to 13 banks alone, but other debts. Business Hilights gathered weekend that serious confusion may be engulfing the telecoms over the ...

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NCA: How Etisalat’s operating licence can be transferred to banks’ on further default

Etisalat banks

Barring further collapse of Etisalat’s $1.2bn syndicated loan repayment negotiations this week, legal experts have smoked out a possibility from the extant Nigerian Communications Act (NCA), showing that even though issuance of a mobile telephone license is personal to the licensee and not transferable to a third party, it can be transferred to the third party on the written approval ...

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NCC warns banks’ as last fight for the soul of Etisalat rages, assures subscribers

ncc-danbatta

In a terse statement issued on Tuesday evening by the Nigerian Communications Commission (NCC), the agency said its attention has been drawn to a planned takeover of Etisalat by a consortium of banks. The statement signed by the Director of Public Affairs, Mr. Tony Ojobo made it clear, however that “The Commission is aware of the indebtedness of Etisalat to ...

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Last week to decide Etisalat’s destiny on $1.2b debts owed banks begins today

NCC Etisalat

Feelers form some of the major banks owed by the telecoms group; Etisalat on Sunday revealed that this week remains the period for final decision on the troubled $1.2 billion syndicated loan crisis rocking the firm with about 13 Nigerian banks. A top official of one of the new generation bank that was also named in the Nigerian Customs N30tn ...

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What if Globacom or Dangote buys Etisalat to rest loan default crisis, grow sector?

Glo Etisa

Crack analysts and deep pocket pundits in the nation’s telecoms sector have started putting figures, trends and happenstances together on a tactical way forward that can better the lot of the industry in Nigeria. One of their proposals is tilting towards a local investor who has the capacity to buy over the embattled credit-ridden Middle-East telecoms, Etisalat in other to ...

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GTB, Zenith Bank, others await second tranche of Etisalat’s negotiated loan payment

Etisalat nigeria

Indications have emerged, showing that the dusts raised by $1.2 billion, about N30bn loan jointly pulled by a consortium of banks in 2013 for Etisalat are yet to settle. Earlier last month, banks involved in the deal opened up to the media threatening to take over the telecoms group on grounds of breaches to the loan repayment deal, but the ...

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Orange, 2 other European telecoms giants closing in on acquiring Etisalat if…

Etisalat nigeria

Another window of opportunity for any of the three (names with held) deep pocket telecoms investors based in Europe who had been targeting to buy any of the exit rumoured GSM companies. It would be recalled that weekend, the news broke that Abu Dhabi-listed Etisalat is considering a sale of its stake in Etisalat Nigeria after the local unit defaulted ...

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Etisalat bags ISO 14001:2004 EMS certification

Etisalat ISO

As a proof of its commitment to excellence and global best practices, Etisalat, has been awarded the prestigious ISO 14001:2004 EMS international standards certification. The certification makes Etisalat the first telecommunication company in Nigeria to successfully implement the ISO 14001:2004 standard. The certification, which was awarded to Etisalat Nigeria by Bureau Veritas, a global leader in testing, inspection and certification, ...

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Tracking now: NCC finally secures soft landing for debt-ridden Etisalat with CBN, banks

It was reprieve for Mobile Network Operator, Etisalat on Friday following a meeting convened by Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) to find a quick resolution to the loan default crisis facing the company. A statement signed by the Director Public Affairs at NCC, Mr. Tony Ojobo revealed that Friday’s meeting succeeded in halting the attempt ...

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Why parent firm, Etisalat UAE is helpless on Etisalat Nigeria’s N537bn debt

Etisalat

Though the Nigerian affiliate of Abu Dhabi-listed telecoms company Etisalat, is in talks with 13 Nigerian banks to renegotiate the terms of a $1.2 billion loan, the profit it recorded in the recent results released at the Abu Dhabi Exchange may not be enough to drive a rescue operations after all. Etisalat Nigeria had taken a cumulative and incremental facility ...

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