Abu Dhabi-listed Etisalat is considering a sale of its stake in Etisalat Nigeria after the local unit defaulted on a $1.2 billion loan payment but wants the unit's debt restructured before it starts the sale process, two sources told Reuters.
Etisalat is due to meet with local lenders in Nigeria on Tuesday or Wednesday to discuss the loan default, the source said, adding that the Abu Dhabi listed company was keen to resolve the loan issue and would look for a good price to sell its stake.
Ahmed Bin Ali, senior vice president at Etisalat, said Etisalat Group does not comment on rumours or market speculation. Etisalat Nigeria could not be reached for comment.
Etisalat May Sell Nigerian Unit Stake after Debt Deal
Comms Week14 Mar 20170 Comments
Abu Dhabi-listed Etisalat is considering a sale of its stake in Etisalat Nigeria after the local unit defaulted on a $1.2 billion loan payment but wants the unit's debt restructured before it starts…
C
Published by
Comms Week
Trained and practicing journalist passionate about telecommunications, fintech, cybersecurity, and digital economy reporting.
You May Like
MTN Nigeria Endorses eWorldForum and Book Launch as GSM Revolution Turns 25
MTN Nigeria's ₦1.62 trillion network Investment builds 100 million subscribers using more data than ever
FG Plans Regulation of Internet Access for Nigerians below 16 Years
The Leadership Reset Powering West Africa’s Customer Experience Revolution
Digital Parks, Master Power Plan New Data Centre Facility in Lagos
