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Etisalat Nigeria Owners Said to Face Write-offs After Default
LAGOS (Capital Markets in Africa) – Lenders who took over Etisalat Nigeria last month after the wireless carrier defaulted on $1.2 billion in debt are being advised to take a writedown to ensure a planned sale of the company is successful, according to people familiar with the matter. Whether to write down the asset has emerged as a sticking point between the owners, who include Nigerian lenders Access Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc, and investments…
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