Following the intervention of regulators to prevent the collapse of Etisalat Nigeria, the operator is trying harder to fix the financial situation. The new CEO, Boye Olusanya, has clarified (according to a Reuters report) that while the immediate focus will be to "ensure that the business runs and meets its obligations, the mandate is to make sure the business runs as profitably as it can".
Etisalat Nigeria is the country's fourth largest mobile operator with 20 million subscribers (14 percent market share). "Once we've gotten ourselves to where certain decisions are made and the structure and form of the business is formed then maybe we would look at a capital raising structure that would be suitable for the nature of how the business will be run," the new CEO said. He added that the business could run without an immediate recapitalisation, however he did not rule one out completely.
Upon being questioned about the usage of Etisalat's brand name, Olusanya said that negotiations are ongoing around the subject.