.The judge held that the steps taken in relation to the exchange of ownership of the company were in violation of subsisting court orders that parties to the pending suit should maintain status quo.
They recalled that orders flouted by the defendants were made by the court the April 17, August 31, and October 10, 2018. The plaintiffs laying claim to an estimated $43,033,950 investment in Etisalat, had said that they were aggrieved by what they described as ‘exclusion from the decision-making of Etisalat.’The stated in an affidavit filed in support of their November 16, 2018 application, that they learnt that the defendants had proceeded to conclude the transfer of the ownership of the company despite the court restraining orders.
“In 2010, the defendants rebranded Etisalat Nigeria Limited to 9Mobile and entered into negotiations with Smile.com and Glo Network to transfer its licence without recourse to the plaintiffs. “Notwithstanding the aforementioned order, the defendants continued negotiations with Smile.com and Glo Network in defiance to the subsisting order of this court.
“When this matter came up on October 10, 2018, counsel to the plaintiff Okechukwu Edeze, informed the court of the attempts made by the defendants to sell Etisalat Nigeria Limited.
y?
We actually need proper reform of all the network providers.
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