Etisalat Exits Nigerian Market, Gives 3 Weeks Ultimatum for Change of Name

This is a really sad one reaching us. It was posted here of recent that etisalat were to be taken over by some group of Nigerian banks but now it has actually been confirmed that the Abu Dhabi-based company has finally decided to exit the country after $1.2bn loan deal failed between Etisalat Nigeria and a group of banks over the restructuring of the Company. The Chief Executive Officer of Etisalat International, Mr Hatem Dowidar, told Reuters that the company had terminated its management agreement with Etisalat Nigeria.
There was so many plans made in order to try and save Etisalat Nigeria from its collapse after lenders were calling for the probe and total takeover of the company.

It was officially announced on Monday by Etisalat International that it was pulling out after all UAE shareholders of the company and have exited and left the board and management of the Nigerian brand.
Etisalat Nigeria have now been given a 3 weeks deadline to decide on the change of the brand name or it will have to risk other Telco’s buying it off.

Do you guys know what I'm really gonna miss, it's their fast network and free browsing cheat. Etisalat really have to do something as quick as possible
For now, we don’t know what will happen to about 21 million Etisalat subscribers.

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