On The Money - In Brief

Mergers, Acquisitions and Financial Results

- OSI’s delisting is set to go ahead next month after shareholders yesterday gave the company the go-ahead to make an offer to buy all its shares and leave the JSE’s boards. OSI said last month that it was experiencing difficult trading conditions as a result of the downturn in the technology sector and the airline industry, from which it derives most of its revenue.

- The Initial Public Offer (IPO) of 160,000,000,000 ordinary shares of the Nigerian Telecommuni-cations Plc (NITEL) is to be sold to the Nigerian public on the Nigerian Stock Exchange (NSE) at 50 kobo each. Acting Director General of the Bureau of Public Enterprises (BPE) Mallam Tijjani Abdullahi, (BPE) revealed this in his presentation on "Reforms and investment possibilities in the telecom sector" at the just concluded 6th Leon Howard Sullivan Summit which held last week in Abuja.