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$547m debt: Etisalat, creditors reach amicable resolution – NCC
By Zakariyya Adaramola | Publish Date: Jul 5 2017 2:00AM

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$547m debt: Etisalat, creditors reach amicable resolution – NCC

The Nigerian Communications Commission (NCC) has said Etisalat Nigeria and its creditors have reached an amicable resolution of key issues pertaining to its $547 million indebtedness.

The commission, in a statement in Abuja yesterday, also said it was confident that the smooth transition process that was currently ongoing on mutually agreed terms would be successful.

The statement, signed by NCC’s Director of Public Affairs, Tony Ojobo, said the commission was confident that the amicable resolutions reached by the parties would further strengthen Etisalat’s capacity to continue to provide services to its over 20 million customers and to fulfil its obligations to its other stakeholders as a going concern, regardless of any changes that the parties have agreed to Etisalat’s ownership, its board and/or its executive management.

pluto09:


What investors want to see is a gradual reduction in debt and not a debt free company. A company with the size of FMN cannot practically stay out of some level of debt.
My suspicion is that they will be coming to the market in the nearest future to raise fresh capital in form of right issue after they might have succesefully pushed up the price on the exchange.

chai, i no pull trigger @ #28 last week, see free fall to #12.....

This days I feel some market markers Oga @ the top visit this forum from the nuisances I see in the market

Etisalat: Investors are dumping ‘FUGAZ’ in droves

The recent takeover of the board of Etisalat Nigeria by the CBN and (possibly Aliko Dangote) has sent investors in a frenzy with banking stocks bearing the brunt.

The Nigerian stock market banking index dropped a whopping 2.26% on Tuesday as investors feared a potential provisioning of the loans by banks. A loan provision by the consortium of lenders could lead to a loss of between $500million to $1 billion this quarter alone.

As investors feared a dip in banks profitability a sell off of bank stocks ensued with the FUGAZ (FBNH, UBA, GTB, Access Bank and Zenith Bank) leading the sell offs.

First Bank led the way with a loss of 3.43% while UBA posted a day loss of 5.75%. GTB, Access Bank and Zenith Bank also lost 1.28%, 2.25% and 1.51% respectively. Other tier 2 banks, also reported massive losses by the close of business. Ecobank lost 4.94%, while Diamond Bank and FCMB both lost 4.72 percent respectively.

Other Stocks

Apart from banks, all other indices closed negative at the end of the trading day (except the NSEIND which gained a marginal 0.01%), as the bears swept through. Analysts at Meristem also opined, in their daily report to investors, expect the market to close negative week-on-week barring any positive news inflow which could sway market activities

Etisalat

The stock market will likely continue to be rocked by the Etisalat loan until at least a semblance of stability is reached by the parties. Etisalat on Tuesday announced that the board as resigned appointing members drawn from the CBN, Audit firms (PWC & KPMG), and Dangote Ltd. This move drew the ire of critics who wondered why the CBN is taking a board position on an unlisted telco and why a Chief Executive of a subsidiary of Dangote is also listed on the board of the company.

Etisalat bought its license from Alheri Mobile Services Ltd, a subsidiary of Dangote Industry Limited.

http://nairametrics.com/2017/07/05/etisalat-investors-are-dumping-fugaz-in-droves/

If you no follow me for SEPT/OCT market participation,wetin you see now,carry for your head.

What is really going on with Conoil.

safepaulooo:


Thanks for your post. My opinion is that this is a Pullback to Shakeout. Not a TRUE BEAR. Volumes are down and those sharks in the market want to take advantage of FEAR in the feeble hearted.....just my opinion

pls is it true dat maybaker made 685m pat in first quater? And they have diversified into food? I just saw an article dis morning, they are d makers of mimi noodles and a table water.

Market is bleeding.....

DUNKA:
if you still have shares in Ashaka how do you exit with the delistment?

The shareholders of Ashaka Cement, who have exercised their option to exit the company prior to the delisting, would receive 57 Lafarge Africa shares for 202 Ashaka shares. They will also receive a N2 per share cash consideration. On the other hand, shareholders, who do not want to remain in the unlisted Ashaka Cement, would be entitled to receive a payment of N15.74 per share from the company.

Read more at: http://www.vanguardngr.com/2017/07/ashaka-cement-delists-nse-violating-free-float-deficiency-provision/

Is FBNH about to move?

Mpeace:
Is FBNH about to move?

You are dreaming.i don cross my leg.no bull till sept/oct. The room is only created for traders only not investors.

yom2:
pls is it true dat maybaker made 685m pat in first quater? And they have diversified into food? I just saw an article dis morning, they are d makers of mimi noodles and a table water.

why not digest their Q1 result.
http://www.nse.com.ng/Financial_NewsDocs/MAY%20AND%20BAKER%20NIGERIA%20PLC%20Q1%20MARCH%202017.pdf

Mpeace:
Is FBNH about to move?

shhhhh!!!!

no loud am too mush!!

feelaaG:


shhhhh!!!!

no loud am too mush!!

feelaaG:

shhhhh!!!!
no loud am too mush!!

Just wait.let me think of drugs to pass to you.

OBAGADAFFI:
What is really going on with Conoil.

Nothing is wrong. Its just shakeout....Some people wants to enter cheap before Friday which is the qualification date and also enjoy cap appreciation post-div.

Discl: hold some units in my portfolio

locodemy:


You are dreaming.i don cross my leg.no bull till sept/oct.
The room is only created for traders only not investors.

Please tell him...FBNH is not going anywhere for now...Yours truly is waiting at KM5 to reload...

Transcorp. hmmmm

Mpeace:
Transcorp. hmmmm

waiting at #1.2

OBAGADAFFI:
What is really going on with Conoil.

just sold off at loss, however I m still looking, to see if it can come down to considerable price...inorder to buy again

makashava:
waiting at #1.2

you are not serious.if i tell you to wait till sept/oct.it means you can cherry pick at 80 kobo.
Dont you like to make money?

veecovee:
just sold off at loss, however I m still looking, to see if it can come down to considerable price...inorder to buy again

I don't want to sell now, i might have average down.

The bears are going out .

May and Baker

I am seeing serious mop up!

Zhirinovsky:
I am seeing serious mop up!

Where?

[/quote]

OBAGADAFFI:

Zhirinovsky post=58148624:
I am seeing serious mop up!

Where?

FBHN

a popular Eminem's song and biro

OBAGADAFFI:


Where?

OBAGADAFFI:
May and Baker

TRAP SET INSIDE A TRAP,NO ESCAPE!

DOLLARTEX:
TRAP SET INSIDE A TRAP,NO ESCAPE!

The best trap ever.

OBAGADAFFI:


The best trap ever.

there will be way out for those trapped when it get to 260k

kolaish:
there will be way out for those trapped when it get to 260k

That is if those offers slows down.
I ain't seeing that happen till it gets to 150K