Etisalat Exits Nigeria, Wants Brand Name Phased Out After Three Weeks

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The Etisalat Group, the parent company of Etisalat Nigeria, has pulled out of Nigeria and demanded that the use of its brand be phased out after three weeks.

The Abu Dhabi-based company decided to exit the country after talks between Etisalat Nigeria and a group of banks over the restructuring of a $1.2bn loan failed.

Chief Executive Officer of Etisalat International, Mr Hatem Dowidar, told Reuters that the company had terminated its management agreement with Etisalat Nigeria.

He, however, said talks were ongoing with Etisalat Nigeria to provide technical support and that its brand can be used for another three weeks before it is phased out.

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