Etisalat In The Tale Of Plenty Crises; Can They Pull Through Or Will They Be Torn Apart?
In recent times, Etisalat the fourth largest telecom company in Nigeria by subscriber’s base has not been in the news for good reason as the company is seriously battling for survival amidst the worst woes the company is facing since it existence in the country and that is currently threating the company's existence in the Nigeria Telecom hemisphere.
It all started in a multi-billion Naira loan deal Etisalat struck with consortium of banks in 2015 to assist the telecom giant in their business expansion, but things began to fall apart for Etisalat in 2016 as they have been finding it difficult to service the loan as agreed in the deal.
And the most recent woes currently befalling the telecom company and even threatening their corporate existence is the pulling out of its largest shareholder from the country, a United Emirate based firm Mubadala Development Company who holds about 70% Etisalat business share of Etisalat, leaving only the remaining 30% equity holdings controlled by Emerging Markets Telecommunications Services (EMTS).
Even at some point, it was reported that Globacom, the second largest telecom provider in the country has indicated keen interest in buying up of Etislat shares if their current woes persist.
Must Read: How to get free Etislat 200MB in the next 24hours
All thanks to the recent intervention by Central Bank of Nigeria (CBN), Nigerian Communication Commissions and some other relevant stakeholders in Nigerian telecom industry, who have all succeeded in calming the nerves of the bank consortium spearheaded by Access bank that have recently threatened to take over Etisalat assets for failure to service the loan deal struck back then in 2015.
Despite all the recent challenges facing Etisalat especially the one that saw Etisalat largest stake holder Mubadala Development Company pulling out of the country, Etisalat has indicated its strong resolution to continue doing business in Nigeria.
Finally, time is of the essence, and in the coming months, Etislat fate will finally be decided on whether they will continue doing their business in the country or will finally succumb and allow other companies take charge of their operations.
It all started in a multi-billion Naira loan deal Etisalat struck with consortium of banks in 2015 to assist the telecom giant in their business expansion, but things began to fall apart for Etisalat in 2016 as they have been finding it difficult to service the loan as agreed in the deal.
And the most recent woes currently befalling the telecom company and even threatening their corporate existence is the pulling out of its largest shareholder from the country, a United Emirate based firm Mubadala Development Company who holds about 70% Etisalat business share of Etisalat, leaving only the remaining 30% equity holdings controlled by Emerging Markets Telecommunications Services (EMTS).
Even at some point, it was reported that Globacom, the second largest telecom provider in the country has indicated keen interest in buying up of Etislat shares if their current woes persist.
Must Read: How to get free Etislat 200MB in the next 24hours
All thanks to the recent intervention by Central Bank of Nigeria (CBN), Nigerian Communication Commissions and some other relevant stakeholders in Nigerian telecom industry, who have all succeeded in calming the nerves of the bank consortium spearheaded by Access bank that have recently threatened to take over Etisalat assets for failure to service the loan deal struck back then in 2015.
Despite all the recent challenges facing Etisalat especially the one that saw Etisalat largest stake holder Mubadala Development Company pulling out of the country, Etisalat has indicated its strong resolution to continue doing business in Nigeria.
Finally, time is of the essence, and in the coming months, Etislat fate will finally be decided on whether they will continue doing their business in the country or will finally succumb and allow other companies take charge of their operations.
Etisalat In The Tale Of Plenty Crises; Can They Pull Through Or Will They Be Torn Apart?
Reviewed by Edwin Akwudolu
on
3:39:00 PM
Rating:
Reviewed by Edwin Akwudolu
on
3:39:00 PM
Rating:
I guess they will torn apart cos there data sub is too expensive for the average Nigerian's unless they do something about there data prices then they will comeback to the game..
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