This is not just a timely targeted blow but a deadly crashing blow and etisalat Nigeria did not survive the blow.
Etisalat has terminated its management agreement with its Nigerian arm and has given Etisalat Nigeria three weeks to phase out the brand in the country. This was as a result of the $1.7 billion loan talk collapse.
Nigerian regulators intervened last week to save Etisalat Nigeria from collapse after lenders were calling for the probe and total takeover of the company.
However, Etisalat International announced on Monday that it was pulling out after all UAE shareholders of the company have exited and left the board and management of the Nigerian brand.
Etisalat Nigeria only have 3 weeks to use the brand name, and then change it to something else or other Telco’s will buy it off. We don’t know for now what will happen to the millions of subscribers on the network.
This is indeed the exit of Etisalat in Nigeria… a regrettably deadly blow.