NewsExpress advert FCMB banner 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: 1,000


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 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Ban on cattle grazing: Afenifere throws weight behind...

NACCRAN seeks media support on child rights protection...

CDHR laments poor state of health facilities, berates...

Canadian Prime Minister elbows female lawmaker in parliament...

Aftermath of ASUU/FG MoU: Universities to reopen next...

Why we invaded APC Lagos Office —DSS

Boko Haram war claims 1,781 lives in 6...

Police, Pro-Buhari group cut short BBOG’s march to...

New leader announced for Boko Haram

Airtel unveils special Ramadan offer

Telcos lose 357,993 customers, as active users reduce...

7 die in Borno suicide bombing incidents

 

Latest News Violence mars APC meeting; 3 killed during fracas, many wounded 2019: Okorocha vows to crush Madumere •Weeds out loyalists from government 3 soldiers, 2 Civilian JTF die in showdown with Boko Haram •Troops gun down 3 terrorists ‘2,000 medical doctors leave Nigeria yearly’ 3rd Force pitches tent with Nigerian workers ahead of May Day, launches PVC-Ballot revolution for 2019 in Lagos 3 masqueraders in police net over attack on church in Anambra FG not serious about wooing foreign investors — Sanusi Gunmen kill 22 farmers in Ortom’s town World Bank jacks up share capital by $13 billion Who wins Big Brother Naija’s N45m? APC group, PDP, SDP, Obasanjo’s CNM, others to form new party Forex: IMF Seeks Unified Exchange Rate Regime

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,317 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,228 views) Shameless Genevieve Nnaji exposes breasts in public (267,468 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (219,927 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (201,903 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (197,871 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,638 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (154,994 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (146,930 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (138,734 views) Lagos plane crash: Journalist releases victims’ names (136,688 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,413 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,065) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (482) Features (568) Global Business Monitor (262) International (1,920) Interview (149) Live Commentary (28) Love Matters (116) News (34,651) Opinion (915) Pidgin (10) Politics (4,800) Religion (722) Sports (1,483) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

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

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement