Etisalat Nigeria has urged its staff to remain calm and confident while procedures for the takeover of the company by banks are being pursued.
The CEO of Etisalat, Mathew Willsher, in a statement to all the staff said the period was challenging but negotiations allowed refocus on company finance and operational strategies.
Willsher informed that workers that aspects of the negotiations touched technical management of resources and the need to continue with the Etisalat brand name for businesses in Nigeria.
A consortium of Nigerian banks on Tuesday took over Etisalat Nigeria after deadlock in negotiation over debt amounting to N541.8 Billion—that’s about $1.72 billion.
The legal representative of the consortium of banks, United Capital Trustees Limited, is seeking 100 percent transfer of shares of Etisalat Nigeria to the banks.
The parent company of Etisalat Nigeria in the United Arab Emirates has a deadline of 5 pm on Friday this week to effect the shares transfers to the banks.