Fidelity bank banner NewsExpress advert
Etisalat gets NCC approval, to unveil new name tomorrow

By Chijioke Ohuocha on 18/07/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,054


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 Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
US Supreme Court bans Nigerian music star from...

Monkey pox spreads to 11 states; number of...

Gunmen invade Rivers community in New Year attack...

NiMet predicts cloudy weather condition for today

4,000 aggrieved members dump APC for PDP

Stop intimidating us over our land, Kaduna communities...

Communal killings: Anambra communities take oath in 7...

Awka youths protest alleged illegal sale of their...

Salient issues in Houston Launch of Bayelsa/Oloibiri Roundtable,...

400 Nigerians rot in South African jails

BREAKING NEWS: Many feared dead as 3 suicide...

17 killed, 1,400 injured as angry Palestinians battle...

 

Latest News World Cup: Mexico stun champions Germany 1-0 Ohakim, Okorocha and the battle of the cowshed, By Collins Ughalaa 31 reported dead as bombs rock Borno Atiku returns from lesser hajj, expresses condolences over Bauchi windstorm Man knifes himself to death ‘because he thought he was wearing a stab-proof vest’ Prof. Chukwuka Okonjo, foremost academic and traditional ruler, turns 90 Govt declares indefinite curfew in Abuja community after crisis SERAP asks court to compel Fashola to account for spending on power Darkness looms as electricity supply drops in FCT, states; 6 power stations shut down 1 killed, 29 arrested in Nasarawa cult clashes APC convention will be hitch-free - VON DG NAFDAC urges FG to establish institute for herbal medicine

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (351,420 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (350,422 views) Shameless Genevieve Nnaji exposes breasts in public (279,434 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,443 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (208,622 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,022 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,240 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,334 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,417 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,031 views) Lagos plane crash: Journalist releases victims’ names (143,441 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,327 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,239) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (503) Features (606) Global Business Monitor (280) International (2,029) Interview (153) Live Commentary (28) Love Matters (123) News (36,268) Opinion (1,000) Pidgin (10) Politics (5,265) Religion (770) Sports (1,549) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Royal Wedding 2018 of Prince Harry and Meghan Markel

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement