luvinhubby:
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?

Something must be wrong, may be the blood of those disgruntled pensioners owed in former UBA are crying for vengeance when he was the chairman. Its a pity though.

seXytOhbAd:
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.

Amen

ditto

luvinhubby:
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?

uba merged with standard trust it was not sold. as a matter of fact it seems uba was the major partner in that merger

Sau Buhari!

Sai chanji!

You ought to have google the transaction to know how much they paid for the licence after which NCC gave same to the Glo MTN got theirs through the acquisition of that firm owned by Zenith Bank owner .....I can't recall the name of the telecom company.

Exchange rate made them basically default in their obligation, I have stated this fact in a similar thread but how they spent the money is what I am discussing now. Paying over 200$ dollar for something that finally went to others for way less was crazy and unjustifiable and I sometime believe that both those who bought and sold the licence ought to be investigated, including the NCC.

How can they pay so much for a licence and less than a month or thereabouts you announce your intention to issue same licence.
Dangote got the licence as a gift from OBJ to encourage him to invest in the sector through Alheri Engineering which he later sold. Was there no condition to the licence that if he doesn't use it he should return it to the NCC

chloride6:


That license even from the NCC doesn't cost more than $20m.

They defaulted on a nearly $2 billion dollar loan.

That can hardly be the reason. I think they were over exposed to the devaluation of the Naira.

You borrow at 160 a dollar and now it's 305 which is nearly twice the price, that' s if you can even get it.

Coupled with increased cost of operations (diesel and all) in a receding economy where people are spending less and opting for alternative such as whatsapp.

Even Einsteins financial projections would have brought me brought a bad hair day.

instead of them to keep promoting it

bonifieldstun:
I wish it was mtn

Me too
Etisalat d best network so far..

Etisalat, just when you ressurect back, stop your massive influx of adverts, you really always the first to do a good ad, it's good, very creative but trust me, there has to be limitation.
I bet you spend a whole lot to get those ads on all broadcast stations ( electronic, print and internet).....
Look at others, Airtel can run one ad for a long period of time, e get why, that dosent stop them from getting more subscribers, as stingy and annoying they might be.. .......
I'm just saying oooo.. .one of the factors I think.
Plus poor management.. ............

Just imagine if we've got good/stable power supply in NIGERIA, things would sure be better for us all........ Ehn.
If you realise how much all this people spend to keep their business running on diesel, you wee weep................

aint:
your thinking faculty needs prayers

I believe you should exercise decorum when addressing issues on internet in as much I won't engage words with you try to be matured in ur comments next time.