Update: Say goodbye to Etisalat guys, and say hi to 9mobile – I don’t know how I feel about this name, though.
Despite appointing a new CEO — Boye Olusanya— Etisalat International has announced that it’s severing ties with its Nigerian arm and will give Etisalat Nigeria 3 weeks to stop using the brand name.
According to the chief executive of Etisalat International, Hatem Dowidar:
“There’s a new board and we are not part of that company. We have sent our termination letter for the management agreement,” he told Reuters.
When asked whether Etisalat would consider entering Nigeria again, Dowidar said:
“The train has left the station on that one. Being in that market as an investor … Are we willing to risk more money compared to the reward for the long-term?”
Before you start thinking about a new name for Etisalat Nigeria, the Emerging Markets Telecommunication Services Ltd. (EMTS), trading as Etisalat Nigeria, said it is aware of reports regarding Etisalat Group’s withdrawal of the right to the continued use of the Etisalat brand in Nigeria by EMTS. However, EMTS had a valid and subsisting agreement with the Etisalat Group, which entitles EMTS to use the Etisalat brand, notwithstanding the recent changes within the company.
Meanwhile, rumor has it that Vodafone or Orange might take over Etisalat’s place.