Sunday, February 22, 2009

American Billionaire targets UBA, Diamond Bank.

Unconfirmed reports have claimed that the American billionaire, George Soros might be interested in taking over either UBA or Diamond Bank or both. UBA is one of the biggest banks in the country and Diamond was just declared the best bank in the country by Thisday newspaper.
Representative of his hedge funds were in the country earlier in the year and met with top management of both banks and also with the ministers of Finance Remi Babalola about investing in the country, especially with CBN claiming earlier that it will not allow foreigners to take over Nigeria’s Bank.
It is believed that the share prices of most banks make them an investment delight and a report last week described Nigeria as one of best 2 countries for Foreign investment in Africa at the moment.

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