Orange, Vodafone are reportedly seeking to purchase 65% of Etisalat Nigeria

Orange Telecom and Vodafone are seeking to purchase 65 percent of Etisalat Nigeria, following the departure of the UAE-based Etisalat Group from its Nigerian business, reports Brandish, citing unnamed sources.

The daily says, following the debt crises that nearly caused the takeover of the brand by a consortium of thirteen Nigerian Banks led by Access Bank, no fewer than five companies have indicated interest to take buy over the shares of the company.

However, sources close to the company suggested that only Orange and Vodafone have shown what was described as “concrete interest” in the takeover of the troubled company.

Sources say discussion with the two companies are at advanced stages, with only the restructuring of the over NGN 370 billion debt as the major snag.

Read more: Orange Telecom, Vodafone interested in Etisalat Nigeria – Telecompaper

Recommended