Etisalat TakeOver: Reno Omokri mocks Etisalat Nigeria

Former Special Assistant to ex-President Goodluck Jonathan on New Media, Reno Omokri, has mocked telecommunications outfit, Etisalat, after they were taken over by a consortium of banks on Tuesday.
Omokri claims the company “destroyed” themselves by backing President Muhammadu Buhari and not his former boss.
He tweeted: “Those behind Etisalat backed PMB and undermined GEJ, thinking they were destroying GEJ. Today they find that it’s themselves they destroyed!?”
The banks, led by Access Bank PLC and other local and foreign banks have taken over the telecommunication company effective June 15.
The take-over came as a result of a futile effort by Emerging Markets Telecommunications Services, EMTS, promoted by-one time Chairman, United Bank for Africa, UBA, Hakeem Bello-Osagie, to reach agreement with the banks on debt restructuring plan in the protracted $1.72 billion (about N541.8 billion) debt impasse.
However, EMTS Holding BV, established in the Netherlands, has up to June 23 to complete the transfer of 100 percent of the company’s shares in Etisalat to the United Capital Trustees Limited, the legal representative of the consortium of banks.
Etisalat Group, the parent company of Etisalat Nigeria, announced the takeover on Tuesday, in a letter filed to the Abu Dhabi Securities Exchange in Abu Dhabi, United Arab Emirate.

Credits: Daily Post

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