Otedola Fumes Over Transcorp Deal.

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Femi Otedola, a multibillionaire businessman, claimed on Tuesday that his offer to pay N250 billion for the Nigerian giant Transnational Corporation Plc was turned down.

Weeks after acquiring interests in Transcorp and selling the shares, Otedola made several accusations against Tony Elumelu, the chairman of the company, in a statement to TheCable. Otedola disclosed that the reason he purchased the company’s stock was because he thought the Group had the potential to reach a price of N2 trillion.

Tony secretly submitted a proposal for Ughelli, and he outbid me by proposing to pay $300 million for the facility. Otedola continued by saying that his purchase offer for Transcorp was “made with the best intentions for Transcorp Plc and its shareholders.


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