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GTBank, Access, others get 45% stake in Etisalat
The ownership structure of Etisalat Nigeria is now set to change after talks with lenders to restructure its $ 1 .2 bn ( N 541 bn) loan failed . This came months after discussions with a consortium of 13 banks, including Guaranty Trust Bank Plc and Access Bank Plc, to restructure the loan after the telecoms firm missed repayment deadlines failed to produce an agreement. In a statement on Tuesday, Etisalat Nigeria confirmed the development and said it had commenced the restructuring with changes to its shareholding. The statement, signed by the Vice-President, Regulatory and Corporate Affairs , Etisalat Nigeria , Ibrahim Dikko , did not give details of the new shareholding structure and the likely trading name. It read in part, “ Etisalat Nigeria can confirm discussions are ongoing regarding other issues such as the trading name during this transition phase. Operations and services to our subscribers remain normal and will in no way be affected as we continue to deliver quality serv
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