Globacom boss, Mike Adenuga plans to buy Etisalat

Globacom Chairman and one of Nigeria’s billionaires, Dr. Mike Adenuga, is reportedly making moves to acquire Etisalat as the latter continues to face debt crisis, New Telegraph has learnt.
The development is coming as Etisalat continues to show distress signs evident in its inability to expand its network as it is enmeshed in a $1.2 billion loan.
The inability of the Etisalat to repay the huge loan taken from a consortium of banks in 2013 nearly resulted in a takeover of the United Arabs Emirates (UAE) telecoms company by the creditors last March.

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