Information reaching ITRealms
news desk, showed that the approval of a restructuring plan for the
telecommunications firm.
The former chairman of the United Bank for Africa (UBA), was
the remaining shareholder in the embattled mobile network operator, Etisalat
Nigeria which is operated the Emerging Markets Telecommunications Services (EMTS)
with some 15 per cent of the equity holding.
Etisalat is under facility burden worth $1.2 billion, about
N377.4 billion loan repayment crunch involving some 13-bank consortium led by
Access Bank plc.
ITRealms recalls
that penultimate Thursday, the major shareholder in Etisalat Nigeria, the Emirates
Telecommunications Group, proclaimed a quit on the investment with effect from
June 15, this year.
Sources close to Bello-Osagie, informed ITRealms that definitely he felt
betrayed by his banking folks with the manner the banks were struggling to take
over Etisalat.
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