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Tag Archives: Etisalat

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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AMCON, banks, foreign investors’ line up for hostile acquisition of debt-ridden Etisalat

Etisalat nigeria

The state of non-performing loans and chronic debt profile of hitherto bustling telecoms giant, Etisalat has started to elicit takeover discussions amongst three set of groups including the traditional bad debts buyers, Asset Management Company of Nigeria (AMCON), banks and veiled foreign investors. The jostling is becoming hotter since the intervention of the Nigerian Communication Commission (NCC), to broker a ...

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