LAGOS, March 8 Etisalat's Nigeria
affiliate is in talks with local banks to renegotiate a $1.2
billion loans it took four years ago to expand its network in
Africa's biggest economy after it missed payments, a senior
executive told Reuters.
Ibrahim Dikko, vice president for regulatory affairs, said
Etisalat missed payments due to an economic downturn in Nigeria,
a currency devaluation there and dollar shortages on its
interbank market. He said the telecoms firm was looking to
renegotiate the terms of the loans.
(Reporting by Chijioke Ohuocha; editing by Jason Neely)