Something is clearly wrong with doing business in Nigeria ...

The parent company invested $13 billion in Gulf Area to attract over 40 milllion subscribers, with high world class services , how can Etisalat Nigeria invest $20 billion for 22 million subscribers with epiletic services and a debt ridden company?

5DMindset:
The fraud that was pulled by using Etisalat as a Special Purpose Vehicle to enjoy multinational bank loans is the kind of fraud I will like to commit.

Now another investor is coming in and the cycle will continue. This is what happens when you have idiots in government houses. Minister of Finance [b]that can not look a man in the eye and tell the truth without getting wet. [/b]And a telecoms regulatory commission that partners with fraudulent Telcos to steal from consumers.

Even the African Gods like Sango, Amadioha and Chukwu Akike Abiama has abandoned us, Jehovah and Allah boys are also pulling 10% and other commissions out of the economy every other Sunday.

Is this a country ?

I yaf dead die wit d bolded

One of the reasons for the mismanagement of the so-called $1.2B debt is currency mismatch. You may ask how did a currency mismatch happen? Answer: EMTS (trading with the brand name Etisalat) collected a dollar loan (foreign currency) while earning Naira (local currency).

A currency mismatch refers to how a change in the exchange rate will affect the present discounted value of future income and expenditure flows. see: https://piie.com/publications/chapters_preview/373/3iie3608.pdf

Another definition of currency mismatch: the activity of borrowing money in the currency of a country where interest rates are low and depositing it in the currency of a country with higher interest rates. The potential profit from the interest rate margin may be offset by changes in the exchange rates which increase the value of the loan in the company's balance sheet. see: http://www.investorguide.com/definition/currency-mismatching.html

The Central Bank of Nigeria (CBN) should stop banks from giving dollar / foreign currency demoninated loans to companies that earn naira (local currency) as their major source of income/revenue except for those that earn dollar/foreign currency. This is required to prevent a currency mismatch and stop the dollarisation of the Nigerian economy.

The new management / board of 9mobile (formerly Etisalat Nigeria) should leverage on their cash flow to offset their debts. However it seems Dangote may partly or fully take over 9mobile. Another treasure chest.

It's so easy to steal in Nigeria without the butt of a gun.. Own a bank, a Telco or head a government in Nigeria and you will have the unfettered access to steal our collectove patrimony with only a 'pat' in the back as punishment. We keep running in cycle and the circus show continues.

Keneking:
The East should have this oh.....

Etisalat ( now 9mobile) - Outsider (Best - Developers needed to sustain )
MTN - Outsider (Good)
Airtel - Outsider (Fair)
Glo - West (extremely poor)

This one is going to the north to mr. Dangote probably. Watch as they get the debts reduced to peanuts and pay over infinitum somehow with taxpeyers' payola.