By Charles Adingupu
The raving financial war between consummate banker, Tony Elemelu and Oil magnate, Femi Otedola over who acquires the greatest stake of Transcorp Group has elicited reactions from Nigerians
The epic battle for the ownership of Transcorp took a new dimension as Heirs Holdings, owned by the Nigerian celebrity banker, Tony Elemelu publicly disclosed at the floor of the Stock Exchange that his company has acquired 25% stake in Transcorp.
On the other hand, Femi Otedola who had acquired 5% stake in Transcorp, belonging to his brother and friend just two weeks ago, made fresh move last week to increase his stake by acquiring another 1.5% share in Transcorp.
With this additional stake, Otedola’s total stake now stands at 6.5% in the Transcorp
Sensing danger ahead by Otedola’s mesmerising recent move, Elemelu made a chess move that peng his total stake in Transcorp at 38%.
Investigations by The New Diplomat in different social media platforms, showed that Nigerians were thrilled over the healthy rivalry between the two established billionaires’ moves to assume leadership control of the Transcorp Group. Excerpts:
Amb. Uchenna Jeffrey Ubah:
Chess game at its highest. It is getting increasingly interesting. Moves that are more familiar with Warren Buffett, Jack Welch, Bill Gates, and Peter Drucker and other Dollar billionaires. Following probability theory in the choice and timing of investment.
Timi Kendabie:
Wow ! I love this game ! It’s mind blowing. Can we have more interesting real life story from this country? I’m greatly inspired and I must say KUDOS to these two titans! Great moves and I can’t wait to see how it ends !
Ikenga Ezenwegbu:
Tony is far more experienced and exposed than his competitor in this kind of game. He also has a bank. His access to data and leverage gears are amazing. He will win if he has not won.
Emake Ogbeide:
An interesting business contest that ring side observation. Only Transcorp will triumph at the end.
Steve Osuji:
Without any prejudice to the fact of the matter, Elemelu has always been the face of Transcorp, growing and nurturing it over the years…. I hope this is not an orchestration of Transcorp Plc shares. Let’s trend softly o !
