Etisalat International Shuts down Business in Nigeria

The Chief Executive of Etisalat International, Hatem Dowidar, yesterday told Reuters that the Firm has terminated its business agreement with Etisalat Nigeria thereby pulling out of the Business. This is coming at the heels of the crisis which has engulfed the management of the firm in recent weeks.

The Abu Dhabi firm, has give the embattled Nigerian arm three (3) weeks to change its brand and stop using the Etisalat brand. This further puts the management of the firm into more crisis as they have less than three (3) weeks to decide on new business arrangement, with the options of outright sale of the business interest or merging with existing operators.

We look forward to see how this restructuring would take place in the midst of the economic meltdown in the country coupled with the financial crisis that has engulfed the firm of late.

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