Senate probe of Etisalat’s $1.2bn debt may disrupt buyers’ appetite—Experts
…As Fidelity Bank takes 5% impairment charge on debt Industry analysts have picked holes in recent move by the Senate on Tuesday to begin investigation into the crisis between Etisalat (now 9mobile) and 13 Nigerians banks over a $1.2bn loan….
9Mobile loses ‘Orange’ opportunity to Airtel Sierra Leone
Orange, one of the world’s leading telecommunications operators, announced on Wednesday, the official launch of its brand in Sierra Leone after it successfully completed the acquisition of Airtel Sierra Leone to become Orange Sierra Leone. Many Nigerian industry analysts said…
UK investors willing to offset 9mobile’s $1.2b debt closes in on deal
Chances of local investors cashing in on acquiring cash-strapped 9mobile are fading as Nigeria’s fourth largest telecommunications service provider, is gearing towards sealing a deal with investors from the United Kingdom. Investigations by Business Hilights showed that key pointer to…
Banks’ working collectively for early sale of 9Mobile—Okonkwo, Fidelity Bank CEO
As the 180 days window handed down to the receiver managers of 9Mobile continue to count, the managing director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, has said that all the banks whose money is trapped are working together for…
9mobile reloads subscribers’ data experience with Moreflex hybrid premium bundles
Telecoms giant, 9mobile, has deepened its commitment to improve positive customer experience for its subscribers with the launch of a new service ‘Moreflex Hybrid Premium Bundles.’ Moreflex Hybrid Premium Bundles is a prepaid package that offers cost effective roaming experience…
NITDA would have done to Omatek, what NCC did to Etisalat—-Analysts
Omatek Computers Plc., was once a leading computer and other device brand of note in Nigeria, but was serially silenced and technically subdued by debt pileup from the Bank of Industry (BoI) some months ago. The bank had in July…
How Etisalat experience forced NCC to begin telecoms stress test
The telecoms regulator, Nigerian Communications Commission (NCC), has technically begun stress test to weigh and ascertain the liquidity status of mega telecoms to avoid the repeat of the 9Mobile experience, formally Etisalat Nigeria. Though the board chairman of the Commission,…
How banks’ removal of $1.2Bn 9Mobile debt from books’ll shape future
Since the revelation that the 12 banks involved in the $1.2 billion 9Mobile loan are setting aside a large part of the debt from their books ahead of the December 31 end-date for the fiscal year, financial pundits have started…
Why 13 creditor banks suddenly seized fire on 9mobile, formally Etisalat
Two weeks of undercover investigations by Business Hilights Economic Research Team (BHERT) on why the rush and aggression deployed by the consortium of 13 banks fighting for their trapped $1.2bn at Etisalat Nigeria, now 9Mobile suddenly eased has paid off….
9mobile joins ISPs, steps up calls for review of data floor, spectrum management
Even though 9Mobile is facing issues bordering default on syndicated $1.2bn loan with 13 banks in Nigeria, that did not deter it from appealing to the Nigerian Communications Commission (NCC) to review the industry’s spectrum assignment, data floor price and…
