UAE’s Etisalat says syndicate of lending banks of EMTS Nigeria exercises enforcement rights

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Emirates Telecommunications Group Co :

* Syndicate of lending banks of EMTS Nigeria exercised their enforcement rights and initiated share transfer

* Nigerian unit received default and security enforcement notice requiring EMTS BV to trnasfer its 100 percent shares in unit to United Capital Trustees LTD

* EMTS lenders extends deadline for EMTS BV to transfer its 100 percent shares in Nigerian unit to United Capital Trustees LTD by June 23

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