Skip to main content

NIGERIA BILLIONAIRE OBA OTUDEKO BATTLE FOR ZAIN TELECOM AND $10.7 BILLION BHARTI AIRTEL ACQUISITION

By Niyi Tabiti
News Editor/www.gistmaster.com

The Chief Executive officer of Zain Telecom,Nabal Bin Salama has said there is no need for the public to be worried over the current ownership dispute that is facing its Nigeria operations.Salama made the statement in India last week.



Salama said he is confident the dispute involving two major 'minority' shareholders in its Nigerian operations would be resolved soon. It should be recalled that Nigerian Billionaire and investor, Mr.Obafoluke Otudeko, whose company owned 14 per cent of Zain (through his company, Broad communications) and South Africa’s Econet wireless had publicly questioned the acquisition of the 65 per cent controlling shares of Zain by Bharti Airtel.


The aggrieved parties thereby went to court to terminate the potential acquisition because it did not follow due process.Otudeko and co also said the company should have given them the benefit of refusal of the stakes before inviting Bharti


Salam said the judgement in the case is yet to come and that they are in a good position so no one should panic.


Bharti is set to acquire 65 per cent of Zain Nigeria for a whooping sum of $10.7 billion dollar. Economic Times report that the company’s stock fell by 12 % last wee due to panic on the side of investors.


Last week Otudeko’s Broad Communications said it has won a temporary injunction at the Federal High Court restraining from managing the Nigerian unit. It also said, it is ready to enforce the injunction.

Who wins this Nigeria business battle? Lets keep our fingers crossed!

Comments

Popular posts from this blog

SEX SCANDAL ROCKS TELECOM COMPANY,ZAIN IN NIGERIA

Sex is so sweet but dangerous when it is done with the wrong person.That was excatly the case as two staffers of a major telecom company in Nigeria were caught in the web of sex controversy recently.The people involved are alledgely married to different partners but alledge yet having sexual relationships for time now.Recently, news peddlers told http://www.niyitabiti.blogspot.com/ that they both decided to take their love nest to a foreign country. Just like the case of Anita Hogan, the Nollywood actress, they both decided to take pictures naked.Some of the photos were e-mailed to us but we decided to post just two so that we won't 'corrupt'your eyes. We further gathered that they later misplaced the memory card and it got into the wrong hands. Someone whispered that it got into the hands of a family member who immediately wired it to some press people. At the moment, we gathered that the two people have allegedly been sacked. Efforts to get the head of corporate affairs

EX-GOVERNOR AGAGU's DAUGHTER, SOLAPE WEDS BRIAN HAMMOND

[caption id="attachment_5361" align="alignleft" width="333" caption="Brian Hammond & Solape Agagu on their wedding day"] [/caption] Solape the first daughter of ex governor Agagu of ondo state is married. She wedded Brian hammond, younger brother of Cecil hammond May 2011. Solape is 33 and a consultant while Brian is 31 and an engineer in a private firm. They were introduced together by Paula,Kojo Annan's ex who's also Brian's sister and solape's friend. One of those that attended the wedding disclosed to gistmaster.com that the ceremony was devoid of unnecessary display of opulence and extravagance. " It has nothing to show it's wedding of an ex governor's daughter. Just a regular posh wedding" Related Links Governor's Daughter who washes toilets Actress Mercy Johnson opens up on her upcoming wedding and date Seun Olubukola and Niyi Adewunmi's wedding photos Bolanle Sokunbi and Folahan Aboderin wed

CHARLY BOY DENIES GAY AND ILLUMINATI STORY,VOWS TO TAKE NEWSPAPER TO COURT

  Controversial entertainer and head honcho of the popular Charly Boy show,Charles Oputa has denied the recent report making the rounds that he is gay and head of illuminati in Nigeria. Charly Boy described the info published in some newspaper as total misinformation. Only a lunatic