Etisalat Nigeria on Thursday changed its brand name to 9Mobile after a crucial management meeting of the telecom firm in Lagos, the commercial nerve centre of the country.
The new name 9Mobile was unanimously adopted by the company as its new brand name.
Last Monday, the chief executive of Etisalat International, Hatem Dowidar, said Etisalat 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 the 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 telecom 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.
Opting to part ways with the company followed the crisis in the wake of the $1.2 billion (N377.4 billion) syndicated loan the telecom firm took in 2013 from a consortium of 13 Nigerian banks.
Premium Times gathered that prior to the announcement of the new brand name, all staff of the company nationwide were sent notices of the change of name. The company’s new name is yet to be unveiled officially to the public.
Early this week, Mr. Dikko said the new brand name would not affect the company’s operations.
New chief executive, Boye Olusanya said the new management was mandated to ensure the business was run as profitable venture.
“What is most important now is to ensure the business runs and meets its obligations. We will focuss on getting the company back on track as soon as possible,” he said.
Additional report by Premium Times
