GTB 737 banner Yudala banner

Etisalat gets NCC approval, to unveil new name tomorrow

By Chijioke Ohuocha on 18/07/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 778


Nigeria’s telecoms regulator has approved Etisalat Nigeria’s name change after its Middle East parent pulled out following regulatory intervention to save the local company from collapse due to debt, the company said.

The Nigerian Communications Commission (NCC) has been notified of the new name, 9mobile, the company said, adding that Etisalat Nigeria had started the process of rebranding. The company is due to unveil the new brand on Wednesday.

“Etisalat Nigeria wishes to inform its over 20 million subscribers, government, regulatory agencies ... the telecommunication company has changed its name to 9mobile,” 9mobile said.

The move was to ensure business continuity of Nigeria’s fourth largest telecom operator, it said in a statement.

Etisalat Nigeria had been in talks with its lenders to restructure a $1.2 billion debt after it missed repayments but the discussions failed to produce a deal, forcing the banks to step in.

UAE’s Etisalat terminated its management agreement with its Nigerian business in June and gave it three weeks to phase out the brand after it had to surrender its 45 percent stake to a trustee because of the debt crisis.

Under Nigeria’s telecoms law, the NCC has to approve a transfer of telecoms licences or any new investor in a telecoms company with more than 10 percent of the shares.

Etisalat Nigeria’s lenders have now taken control and appointed a new team to manage the company with a focus on getting it back to profitability while working to eventually raise new capital. (Reuters)

Source News Express

Posted 18/07/2017 6:47:23 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Breaking News: Ekwueme, Clark, Okunronmu call for Jega’s...

Anambra civil servants to receive special Christmas allowance,...

Cameroon soldiers kill 107 Boko Haram fighters

FAAN vows to end touting at airports

Kaduna Governor replies Minority Leader over alleged lack...

Traders count losses as Tinubu’s daughter reopens market...

APC plotting my removal — Fayose •Fingers Presidency,...

Why we set up Edo Library Review Committee:...

Taraba Governor and Acting Governor face impeachment

BREAKING: New Gambia president Adama Barrow takes oath...

Niger militants regroup, move into the creeks; attack...

Nigeria’s economy requires fundamental transformation — Fidelity Bank...

 

Latest News Jubilant crowd, encomiums as Secondus storms Wadata Plaza to submit nomination form for PDP national chairmanship Veteran journalist down with stroke pleads for urgent help to get treatment Buhari changes tactics in war against Boko Haram Peace Corps: Lawyer sues IGP, AGF over disobedience of court orders Boko Haram still in control of Sambisa Forest — Northern Youths •Ask FG to tell Nigerians the truth Facebook announces scheme to empower 50,000 Nigerians End obstruction of justice by SSS, NIA officials, SERAP tells Buhari Notorious gang beheads man near Washington •How he was stabbed more than 100 times, heart ripped out Lagos moves to solve Apapa traffic wahala, begins evacuation of articulated vehicles on Apapa – Oshodi Expressway International NGO, others donate N50m medical equipment to Enugu Govt. How to enhance maritime security in Gulf of Guinea — Dakuku Peterside Air Force bombers destroy Boko Haram bomb-making facility in Borno

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (295,700 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (279,265 views) Shameless Genevieve Nnaji exposes breasts in public (225,839 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (190,014 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (181,526 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (166,573 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (144,457 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (130,795 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (127,581 views) Lagos plane crash: Journalist releases victims’ names (116,695 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (113,969 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (108,384 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (31) Business (2,781) Business Verdict (26) Columnists (770) Complaints & Requests (93) Enterprise & Opportunities (187) Entertainment (407) Features (510) Global Business Monitor (192) International (1,653) Interviews (138) Live Commentary (28) Love Matters (84) News (30,461) Opinion (838) Pidgin (9) Politics (4,124) Religion (649) Sports (1,357) Stock Watch (24) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN Words on marble

 

 

Argentina vs Nigeria

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!