Etisalat Group terminates Nigerian EMTS right to use brand
- UAE-based Etisalat group stated that the rights granted to EMTS to use the Etisalat’s brand (and related IP rights) by EMTS Nigeria will terminate as of 21 July, 2017
-According to the letter released on Thursday July 20, a further announcement will be made in accordance with applicable Securities and Exchange rules and regulations
-Previously, the Chief Executive Officer of 9mobile Boye Olusanya, stated that the new name was chosen deliberately as it is a representation and confirmation of the company’s Nigerian heritage
-Olusanya also disclosed that the new logo represents the brand’s thoughts about the future of digital technology
Telecommunications Group Etisalat, has disclosed that starting from Friday July 21, all rights granted to the Emerging Markets Telecommunication Services Limited (EMTS) and EMTS lenders to use its Etisalat brand will be terminated, Daily Trust reports.
This was revealed by the United Arab Emirates-based group in a letter addressed to the director general of the Abu Dhabi Securities Exchange, with reference number HO/GCFO/152/105.
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Signed by Serkan Okandan, the chief financial officer of Etisalat Group, it read:
"Further to our announcement dated July 10, 2017, Emirates Telecommunications Group Company PJSC “Etisalat Group” would like to inform you that Etisalat Group has entered into extensive negotiations with Emerging Markets Telecommunication Services Limited “EMTS” and the EMTS Lenders under the defaulted facility agreement, in connection with putting in place interim agreements for technical services, strategic procurement support and the use of Etisalat brand (and related IP rights).
“The purpose of these agreements was to allow for an organized transition to a new brand without adversely impacting EMTS’ ability to operate in the normal course.
“However, EMTS and the EMTS Lenders have since decided not to proceed with these negotiations and to use a new brand.
“Accordingly, the rights granted to EMTS to use the Etisalat’s brand (and related IP rights) by EMTS Nigeria will terminate as of 21 July, 2017.
“Should there be any material developments on this subject, a further announcement will be made in accordance with applicable Securities and Exchange rules and regulations.”
In an earlier report, Boye Olusanya, the chief executive officer of 9mobile, revealed why the company chose the new name after it stopped being called Etisalat.
Olusanya made his comments during a press briefing which held in Lagos.
According to the CEO, the new identity is a reflection of the bold and creative attributes which the organisation shares with its valued subscribers.
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Olusanya disclosed that the new brand name was chosen deliberately as it is a representation and confirmation of the company’s Nigerian heritage, its 9ja-centricity and a new phase of its growth over 9 operational years in Nigeria.
Hence, customers have been assured that the company’s values would remain the same even though it has experienced a change of name.
Further analyzing aspects of the new name and logo, Olusanya stated that the new logo represented the brand’s thoughts about the future of digital technology and its continued impact on communications and human interactions.
The logo also represents continuity and resilience; with its number theme representing the futuristic slant of the network.
The brand’s color which remains unchanged (green) further represents ‘Nigerianness’, as well as vibrancy, dynamism, life and youth.
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Recall that Legit.ng previously reported that after news broke out that the embattled telecom company, Etisalat changed name, the company formally adopted 9mobile as its new trade name.
Emerging Markets Telecommunication Services Limited (EMTS) formally confirmed the development on Tuesday, July 18.
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Source: Legit.ng
