Telecommunication giant, Etisalat has pulled out of Nigeria following a breakdown in discussion with the government and relevant partners to salvage the company from total collapse. On Monday, Reuters reported that the Chief Executive Officer of Etisalat International, Hatem Dowidar terminated its management agreement with its Nigerian arm and has given the operator three weeks to phase out the brand.
According to the report, the decision followed collapse in discussions to renegotiate a $1.2bn loan. Dowidar added that all UAE shareholders in the company have exited the company as well as the Board and Management.
