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Access Bank, GTB & Zenith Set to Takeover Etisalat NG Over N541.8 billion Debt

It is not a joke or neither a story that the 4th largest Nigeria Telecom provider Etisalat is set to be taken over by three banks namely Access, GTB and Zenith which has already been approved by NCC, according to report.

According to Premium Times, Etisalat took loan facility worth $1.72 Billion (about N541.8 Billion) from these three banks in 2015 to finance their network rehabilitation and expansion of its operational base in Nigeria. But unfortunately Etisalat failed to meet the debt deadline in 2016.If I may ask how did Etisalat manage their profit?

Therefore, Etisalat will now be owned by these three banks. But before then, lets wait for more updates. 

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