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Friday, 14 July 2017
Etisalat Nigeria changes name to 9Mobile
Embattled Etisalat Nigeria on Thursday rallied to move away from the shadows of its troubles by taking a new brand name.
At end of a crucial management meeting of the telecoms firm in Lagos, 9Mobile was unanimously adopted by the company as its new brand name.
The development was sequel to the matching order given by the Chief Executive of Etisalat International, Hatem Dowidar, last week that the Group would, in the next three weeks, phase out the brand name in Nigeria.
The decision followed Emirates Telecommunications Group (Etisalat Group) withdrawal of further involvement in the ownership of its Nigerian subsidiary.
Until June 15, the United Arab Emirates, UAE, group was a major shareholder in Etisalat Nigeria, along with United Arab Emirates Sovereign Wealth Fund through Mubadala Development Company, Abu Dhabi.
The two affiliates controlled a combined 85 per cent equity in the telecoms firm, with Myacinth holding 15 per cent stake through Emerging Markets Telecommunications Services, EMTS Holding BV, owned by former United Bank for Africa, UBA, Chairman, Hakeem Bello-Osagie.