LAGOS May 10 Talks between the Nigerian arm of
Abu Dhabi's Etisalat and its lenders to renegotiate
the terms of a $1.2 billion loan are continuing and progress has
been made, the company said on Wednesday.
The telecoms company signed the seven-year facility with 13
local banks in 2013 to refinance a $650 million loan and fund
expansion of its network but is now struggling to repay the
"Discussions are not only ongoing with our bankers, but good
progress has been made so far," said Ibrahim Dikko, Etisalat
Nigeria's vice president, Regulatory and Corporate Affairs. "We
are optimistic that an agreement will be reached shortly."
(Reporting by Chijioke Ohuocha; Writing by Alexis Akwagyiram;
Editing by David Goodman)