IT NEWS NIGERIA:
There is strong indication that Etisalat Nigeria has changed its brand name to 9Mobile, according to online reports.
The name change follows the pullout of Mubadala Group, Etisalat’s major investor from the United Arab Emirates, over a $1.2bn debt.
ABU Dhabi’s Etisalat earlier in the week terminated its management agreement with its Nigerian arm and given the business time to phase out the brand in Nigeria, the chief executive of Etisalat International told Reuters on Monday.
Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after talks with its lenders to renegotiate a $1.2 billion loan failed.
All UAE shareholders of Etisalat Nigeria have exited the company and have left the board and management, Hatem Dowidar said in an interview.
He said discussions were ongoing with Etisalat Nigeria to provide technical support, adding that it can use the brand for another three-weeks before phasing it out.