One of Nigeria’s telecommunication companies, Etisalat has now been taken over by ten major Nigerian lenders.

The lenders include:

1. Zenith Bank

2. GT Bank

3. First Bank

4. UBA,

5. Fidelity Bank

6. Access Bank,

7. Ecobank,

8. FCMB

9. Stanbic IBTC Bank and

10. Union Bank.



The take-over came as a result of a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for Africa, UBA, Hakeem Bello-Osagie, to reach agreement with the banks on debt restructuring plan in the protracted $1.72 billion (about N541.8 billion) debt impasse.


http://www.newshelmng.com/2017/06/the-banks-that-took-over-etisalat.html

I don pack here wimma Glo 2G network

Watch out for the gradual painful death of Etisalat, most of these banks are standing on weak legs. imagine them taking over Etisalat, an already failed institution.

Hnnnmnn

This should not be an issue. Businesses fail all the time, and deals are made towards either restructuring the business or taking it over
I don't feel bad for any of the directors as they are already quite wealthy.

My prayers and thoughts goes out to the poor staff of the company, especially the contract staff who usually end up getting laid off. I pray the Almighty sees you through this uncertain period.

Nigerianisation of a foreign owned telecoms company. Clear signal to foreign investors to keep off.

But, why is it that every corporate organisation headed by Hakeem Bello Osagie runs into crises and is eventually sold, first was UBA that was sold to Elumelu's Standard Trust and now Etisalat Nig?

Taking over Etisalat is likened to taking over a bride whose punny a baton can pass tru without friction....




All dese YEYE banks sharing Etisalat like say na Nigeria Loot.....


.Wen he reach to debit me for notin una no dey waste time

Banks?

So long as it doesn't stop the fast network...





All you space bookers above me...

Good or bad Etisalat sure pass

F

I knew there was a problem when their data price increased
At least its not GLO that took over

so which other bank is remaining?

Debt of this much?

So this telecommunication fall for mtn juju. Fear South Africa
They kill our people
They won us in our land (cup of nation qualifier)
Now they are killing competitors in our land.



Glo needs prayer oooo

okay

Banks that can't manage dereslf are taking over.... the beginning of the end for etisalt

They will run it down.. Banks and businesses have a bad history

Thats a good one

I no understand.. Dem sell am

Cool

Na wa ooo no business fit survive for naija again.

10 banks ! This is serious :

just why

harbdulrasaq88:
One of Nigeria’s telecommunication companies, Etisalat has now been taken over by ten major Nigerian lenders.

The lenders include:

1. Zenith Bank

2. GT Bank

3. First Bank

4. UBA,

5. Fidelity Bank

6. Access Bank,

7. Ecobank,

8. FCMB

9. Stanbic IBTC Bank and

10. Union Bank.



The take-over came as a result of a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for Africa, UBA, Hakeem Bello-Osagie, to reach agreement with the banks on debt restructuring plan in the protracted $1.72 billion (about N541.8 billion) debt impasse.


http://www.newshelmng.com/2017/06/the-banks-that-took-over-etisalat.html

That should not affect there service Etisalat is still my best network

Opportunity

See gobe!!!!!!

tuhari see ur work. U all not rest in peace

when will banks take over glo?

Hmmmm Let me tell you guys what I can see with my spiritual eye


First, I heard Berger Paint Fired all their staff yesterday and Julius Berger Construction company fired 120 staff still yesterday..


hmmmm


I sincerely wish Etisalat will not fire upto 500 staff.


If you are working at Etisalat, u better put your entrepreneurship still to work now oo before is too late.

Etisalat...The latest victim of APC misrule.. change mantra sweeping through the land.. Nigeria is fast loosing it...