$1.2bn debt: Etisalat holds talks with banks

Etisalat Nigeria is in talks with some banks to renegotiate the terms of a $1.2 billion loan it took out four years ago after missing a payment, Reuters reported a senior executive of the telecom firm as saying yesterday. According to the news agency, Vice President for Regulatory Affairs at Etisalat Nigeria, Ibrahim Dikko, said Etisalat missed payments due to an economic downturn in Nigeria, a currency devaluation there and dollar shortages on the country's interbank market. He was quoted as saying : 'We are in discussions with our bankers...The post $1.2bn debt: Etisalat holds talks with banks appeared first on New Telegraph Nigerian Newspaper.
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