This is what happens when governance is based on impulse to entertain the public
instead of deep thinking. This is the latest achievement of Muhammadu Buhari.

kingthreatz:


The beautiful damsel I married is smarter than anyone that has come out from your kindred. Your intellect is so woeful that you choose to blame a man for all your misfortunes like the previous president did any better.Maybe its the too much cumm you drink from your gay partners that has kept your IQ eroded. You need help.
And please change your moniker. Salman Rushdie wont want to be associated with lowlifers.

At least you have done one thing right for your future generation by marrying a woman that is smarter than your ancestors because if you kept trying to sustain that dull strain of DNA you will be posing a lot of problems to mother earth like your lineage have been doing for 300 years now ..Congrats once more bro for doing the right thing, we are all proud of you.

ivolt:
This is what happens when governance is based on impulse to entertain the public
instead of deep thinking. This is the latest achievement of Muhammadu Buhari.

Exactly

very soon we may here from info minister, {etisalat is doing fine, nothing is wrong with etisalat, they 're only repositioning the company} you can only win election by propaganda due to the gullibity of the citizens, bt you can't deliver good economic policies by propaganda alone. nigeria is worst off with apc. shame on them. apc= all promises cancelled.

Let me briefly tell Y'all what u failed to understand, I'm currently working with one of the Telecom Firms, Etisalat purposely pulled out of nigeria for best reason known to them!!! Actuly I didn't support the move though. Buh they sense havoc In the nearest future of this hopeless nation!!! Will Abu dhabi tell me they can't pay such amount despite their Vast wealth? Pls think think & think deeply, Wise Up People!!! Goodday!!!

SalamRushdie:


If you are smart by an inch you would have seen it was clearly an exit strategy not to service that loan again and instead convert it to transferable equity which they have clearly pulled of seamlessly but your low IQ can never let you see it . Keep supporting a clueless Buhari while you life and those of your loved ones are falling apart by the minute ...Even last week you could afford antimalarial for someone you love and you are here spewing partisan nonsense

The default started early though. Just immediately after the end of moratorium in middle 2014. Surely, they couldn't have known that Buhari would come in or mess up the economy by then.

Remember that the banks wanted to take this action long ago but were prevailed upon by govt that asked the bank regulators to allow the banks to continue carrying the loans without impairment.

Now that the banks financial year is fast approaching and the loan would be due for impairment made the banks to fast-track the calling in of the collateral which is the shares held by the owners. This will hugely mitigate the extent of provision for the loans at year end.

...when a vegetable bulhary is on the throne...

NeeKlaus:
Okay. I might be a greenhorn here but what happens to the millions of Etisalat subscribers now??

Absolutely nothing....

Pecca:
...when a vegetable bulhary is on the throne...

You lack insight and dull at same time


Your life must be very miserable!


You should be contemplating suicide to save yourself

Migrating soonest

SalamRushdie:


If you are smart by an inch you would have seen it was clearly an exit strategy not to service that loan again and instead convert it to transferable equity which they have clearly pulled of seamlessly but your low IQ can never let you see it . Keep supporting a clueless Buhari while you life and those of your loved ones are falling apart by the minute ...Even last week you could afford antimalarial for someone you love and you are here spewing partisan nonsense

Chai!..Jesu!..Mr. Salami, You're a big time Error, I swear!
By your myopic logic, A going concern would contrive an exit strategy not to service her debt so she could forfeit assets running into billions of dollars in the biggest market in Africa?

And you claimed you issue cheques to virtual banks to keep them going. Is this how you run down businesses?. No doubts, you never had none. I knew it that Wailers are all loud mouths with no brain.

Your rants about antimalaria is trash. I would ignore.

SalamRushdie:


If you are smart by an inch you would have seen it was clearly an exit strategy not to service that loan again and instead convert it to transferable equity which they have clearly pulled of seamlessly but your low IQ can never let you see it . Keep supporting a clueless Buhari while you life and those of your loved ones are falling apart by the minute ...Even last week you could afford antimalarial for someone you love and you are here spewing partisan nonsense

Am sure you will feel you re brilliant?


Smh.....

thanks to buhari lmao

0b10010011:



Am sure you will feel you re brilliant?


Smh.....

I don't feel brilliant , I actually feel I am God's gift to mankind because if you see the kind of shit I do with with limited factors you will marvel bro

ivolt:
This is what happens when governance is based on impulse to entertain the public
instead of deep thinking. This is the latest achievement of Muhammadu Buhari.

Feel you pain!


You just wanted to comment at all cost even when you lack insight of subject matter!

0b10010011:



Feel you pain!


You just wanted to comment at all cost even when you lack insight of subject matter!

Finding people with mouth is very easy but Finding people with common sense is war.

TimeMod1:
Chai!..Jesu!..Mr. Salami, You're a big time Error, I swear!
By your myopic logic, A going concern would contrive an exit strategy not to service her debt so she could forfeit assets running into billions of dollars in the biggest market in Africa?

And you claimed you issue cheques to virtual banks to keep them going. Is this how you run down businesses?. No doubts, you never had none. I knew it that Wailers are all loud mouths with no brain.

Your rants about antimalaria is trash. I would ignore.

Gberra is tht you?

What assets exactly ? You know nothing about how the telecoms industry is run and the relationship between investors and hardware owners so shut up . Those radios belong to Hauwei if you don't know and Huawei will will still make its money whether Etisalat remains in business or not ..The only critical assets a modern telcos has is its subscriber base and the ability to keep stimulating them to spend .

SalamRushdie:
No matter how we try to mask this it still is a fallout of the poor leadership of General Muhammadu Buhari who early in his govt set in place poorly thought out haphazard play to the illiterate zombie gallery economic and vendetta driven policies which scared away further Foriegn Direct Investment and stimulated a capital repatriation stampede which saw many multi national stealthily pullout over 60 billion dollars worth of capital, gross turnover and PPTs right under the nose of a clueless Buhari ..The truth is that Mubadala pullout is reflection of the vote of no confidence most investors , business majors , multinationals , IOCs, SMES and every day Nigerians have since passed on this ghastly mistake in governance headed by no other than the visionless Muhammadu Buhari ..God bless Nigeria I hope we have all learnt from our mistakes

Watch your B.P. because you may just slump and die anytime due to your hatred for Buhari. Your very intelligent PhD holder Goatluck Jonaddaft looted and shared our resources among his gang of thieves without given even you idiot a penny and you are here ranting that it is Muhammadu Buhari that made your father impotent and turned your brothers to gala and la casera hawkers and your sisters to Lagos brothel prostitutes. IIIIDIOT.

SalamRushdie:
No matter how we try to mask this it still is a fallout of the poor leadership of General Muhammadu Buhari who early in his govt set in place poorly thought out haphazard play to the illiterate zombie gallery economic and vendetta driven policies which scared away further Foriegn Direct Investment and stimulated a capital repatriation stampede which saw many multi national stealthily pullout over 60 billion dollars worth of capital, gross turnover and PPTs right under the nose of a clueless Buhari ..The truth is that Mubadala pullout is reflection of the vote of no confidence most investors , business majors , multinationals , IOCs, SMES and every day Nigerians have since passed on this ghastly mistake in governance headed by no other than the visionless Muhammadu Buhari ..God bless Nigeria I hope we have all learnt from our mistakes

Your analysis is wrong. Remember how many times Airtel has been on several crisis of which I don't even know their present name. It all happened during oil boom but had more to do with management than state of economy. Nigerian economy has recovered from earlier challenges from low oil price and PDP sponsored economic sabotage. Right now things are improving rapidly.

well well well, accessbank just got itself a telecoms network

Abagworo:


Your analysis is wrong. Remember how many times Airtel has been on several crisis of which I don't even know their present name. It all happened during oil boom but had more to do with management than state of economy. Nigerian economy has recovered from earlier challenges from low oil price and PDP sponsored economic sabotage. Right now things are improving rapidly.

Airtel case was caused by James Ibori when he ousted the original promoters Econet Wireless just because of greed, that move threw the company into whirlwind of opportunist ,jobber and corporate buccaneers who were more interested selling empty equity to unsuspecting buyers instead of running a successful company .. The two scenarios are very differnt

SalamRushdie:


What assets exactly ? You know nothing about how the telecoms industry is run and the relationship between investors and hardware owners so shut up . Those radios belong to Hauwei if you don't know and Huawei will will still make its money whether Etisalat remains in business or not ..The only critical assets a modern telcos has is its subscriber base and the ability to keep stimulating them to spend .

Your ignorance is epic. I don't think I have to delve into business fundamentals with you.
Partnership is a norm in business spheres. However, the question is, who holds the majority shares and liabilities?. In this case, it's Etisalat.
Be informed that whenever you hear Assets, do not always think Physical assets. Bear in mind that there's liquid assets both in cash and bank. But of course, one cannot ignore physical assets in this argument since Etisalat maintains physical structures.
Another point of correction, a subscriber base is not a company's Critical assets rather a market share which explains why Etisalat fights for its own share with the other big three.
Blame Buhari all you want for your ignorance.

Keneking:
“The business outlook remains challenging, but our re-negotiations so far allow us to refocus our energies on the financial, operational and strategic priorities that will help the customers"

- The Customer remains the Winner

I am sure APC party has gotten what they wanted ...taste of power, power drunk, useless party

Not too sure about that. Mubadallah has cut them loose and with it goes 'values' without a doubt. Values are sustained by critical mass. Without the parent company involved the 'child' will simply learn from its environment so expect a gradual but progressive 'Nigerianisation' of its operations and with the heat coming from banks who know nothing beyond money the outlook is pretty dire. Sure they don't want a run on their subscribers cos right now there will be green, red and yellow sharks circling. He has to say that.

seunmsg:
Something is definitely very wrong with the desperate attempt by Access bank and its foreign partners to take over the company at all cost. I would have expected a receiver manager to be appointed first to see if the loans can be recovered with a better management but an outright takeover straight away is a little unsettling. A telecommunication company with over 21 million subscribers is a goldmine any day so, it is surprising that the company is defaulting in meeting its obligations.

my dear that figure is over hyped,u ask urself how many people are still active on the line, were there are so many alternatives.

what would EMTS be named now?

Reference:


Not too sure about that. Mubadallah has cut them loose and with it goes 'values' without a doubt. Values are sustained by critical mass. Without the parent company involved the 'child' will simply learn from its environment so expect a gradual but progressive 'Nigerianisation' of its operations and with the heat coming from banks who know nothing beyond money the outlook is pretty dire. Sure they don't want a run on their subscribers cos right now there will be green, red and yellow sharks circling. He has to say that.

Its current operations are run by locals

Billyonaire:
A beautiful legitimate Heist has just happened and my Nigerians are not smart enough to join the global hedging game. Buy as low as 51% Equity, rebrand and make the Special purpose vehicle very appealing and package a product, then get the commercial bankers to rush in with beautiful ladies offering you billions of dollars in loan and sex you draw the credit lines and lock in private investors. Then tick tock tick tock, you sell off your equity and divulge your interests with the 'profit'. The game was just orchestrated to steal the loans and guess what ? It is legal. And they are gone, just allowing the Nigerian banks, their government and other private investors to hold the bag.

This is the simple formula of the 1%.

You are smart bro. you see what i am seeing.
But truth is, that only became an option when they could not source $$ to service the loans. I know that would have tarried a little while longer enough to ensure their liability exceeds their assets, before pulling out leaving the carcass for nigeria banks to handle.

MTN be like.................

We shall increase call rates by 1000 percent.

specter:


You are smart bro. you see what i am seeing.
But truth is, that only became an option when they could not source $$ to service the loans. I know that would have tarried a little while longer enough to ensure their liability exceeds their assets, before pulling out leaving the carcass for nigeria banks to handle.

It was planned already. That is how its done. People can forecast recession before it happens or they can make it happen to cash out. How do you think the 1% make money bro...lol

lilytender:



Watch your B.P. because you may just slump and die anytime due to your hatred for Buhari. Your very intelligent PhD holder Goatluck Jonaddaft looted and shared our resources among his gang of thieves without given even you idiot a penny and you are here ranting that it is Muhammadu Buhari that made your father impotent and turned your brothers to gala and la casera hawkers and your sisters to Lagos brothel prostitutes. IIIIDIOT.

As you can see below my BP is super excellent so just worry about yours and Buhari's own for now OK

I am not too surprise to see most of the comments here. most of us here in Nigeria do not understand most business technical terms. Most of us do not read business books.

In a layman's term, let me explain to you what this means.
Though the Headline might have been technically coined to attract faster attention.
Etisalat UAE is one of the major shareholder of the Etisalat Nigeria. It just transferred(Sold its share to recoup its investment or capital) its share to Etisalat Nigeria.

For example, u have a business and decide to ask your uncle, your father and sister to bring in money (Shares) to sponsor the business and whatever gain the business makes will be shared (Dividend) to the sponsors according to how much they brought in.

If eventually, your uncle says that he is no longer interested in the business and he withdraws and other ppl are even interested to take over ur uncle's position (in this case of Etisalat, the Access Bank and co), does it mean that the business has died.
It is a seamless procedure that the customers may not even feel. Only the name may change.

So that is the situation here. Etisalat subscribers have nothing to be worry of.