Etisalat has ended its management agreement with its Nigerian arm and its only a matter of time before the brand phases out in Nigeria, the chief executive of Etisalat International, Hatem Dowidar told Reuters on Monday.
Last week, Nigerian regulators made attempts to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate a $1.2 billion loan failed.
All UAE shareholders of Etisalat Nigeria have exited the company and have left the board and management, Dowidar said in an interview. It would also be noted that the chairman of Etisalat Nigeria, Hakeem Belo Osagie resigned and several other members of the board have also stepped down.
Dowidar also stated that discussions were ongoing with Etisalat Nigeria to provide technical support, adding that it can use the brand for another three-weeks before phasing it out.
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