On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Nigeria: Chairman of Global Fleet, Barrister Jimoh Ibrahim said his next port of call is NITEL after he unsuccessfully sought to buy over VGC Communications Limited. But observers are already querying the rational for his explanation saying he has announced his intention to buy NITEL when the Orascom deal is still on the table. In a statement from the public relations consultant employed by Global Fleet, TPT International, quoting unnamed sources close to Ibrahim said, the pull out from VGC was "a tactical maneuver to consolidate its resources for a successful challenge for the Nigerian Telecommunications Limited."