[iyke-d]

The point I am trying to make is that people need to at least give Transcorp some credit. If you go back to reading this thread or read some Nigerian dailies, you will see that people have been predicting the demise of Transcorp ever since - the sky is falling! Instead, the company is still alive and waxing strong. They have made some mis-steps and have to contend with political forces and infighting, but the people at Transcorp are still way ahead of the game. Their IPO was underscribed, so what did they do? They arrange a $55billion bond, which essentially takes care of the high interest NITEL loans which would have sunk them. The government decides to reverse the sale of NITEL, only to re-reverse themselves again. Their Hilton Hotel is #1 in Nigeria otherwise you won't be reading about this latest deal.

Correction: That should be N55billion bond.