Abu Dhabi – Mubasher: Etisalat Nigeria focuses on getting back on track to make profits after it was saved from collapse, Reuters reported.
The telecom operator is working to raise new capital, according to Etisalat Nigeria’s CEO Boye Olusanya.
Nigerian regulators intervened last week to save Etisalat Nigeria after talks with its lenders to renegotiate a $1.2 billion loan from 2013 with 13 local lenders failed.
UAE’s Etisalat had a 45% stake in the Nigerian business, he said, adding that its exposure to Eitsalat Nigeria related to services is valued at AED 191 million ($52 million).
“We are still in negotiations with Etisalat over the use of the brand name,” Olusanya added.
