Nigeria's telecoms regulator has approved Etisalat Nigeria's cite alter afterward its Middle East nurture pulled out next regulatory intervention to salve the local companionship from collapse due to debt, the companionship said.
The Nigerian Communications Commission (NCC) has been notified of the novel name, 9mobile, the companionship said, adding that Etisalat Nigeria had started the procedure of rebranding. The companionship is due to unveil the novel build on Wednesday.
"Etisalat Nigeria wishes to inform its over twenty 1000000 subscribers, government, regulatory agencies ... the telecommunications companionship has changed its cite to 9mobile," 9mobile said.
The deed was to ensure draw of piece of employment organisation continuity of Nigeria's 4th largest telecom operator, it said inwards a statement.
Etisalat Nigeria had been inwards talks amongst its lenders to restructure a $1.2 billion debt afterward it missed repayments precisely the discussions failed to orbit a deal, forcing the banks to stride in.
UAE's Etisalat terminated its administration understanding amongst its Nigerian draw of piece of employment organisation inwards June together with gave it iii weeks to stage out the build afterward it had to give upwards its 45 per centum stake to a trustee because of the debt crisis.
Under Nigeria's telecoms law, the NCC has to approve a transfer of telecoms licences or whatever novel investor inwards a telecoms companionship amongst to a greater extent than than 10 per centum of the shares.
Etisalat Nigeria's lenders possess got at 1 time taken command together with appointed a novel squad to deal the companionship amongst a focus on getting it dorsum to profitability field working to eventually heighten novel capital.
Reuters