Banks to extend 9mobile’s debt ahead of sale

Banks to extend 9mobile’s debt ahead of sale

NIGERIAN lenders have agreed to extend a loan of $1.2 billion made to 9mobile, formerly known as Etisalat Nigeria, pending the mobile operator finding new investors, FCMB bank said on Tuesday. Regulators intervened last month to save Etisalat Nigeria, the country’s fourth-largest mobile operator, from collapse and prevent lenders placing the telecoms firm in receivership, […]
Source: Banks to extend 9mobile’s debt ahead of sale

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post culled from nigerianpilot.com