₦airaland Forum

Criminal government. Their eyes don dey on top

DeLaRue:
The government did not sanction the deal.

Governments don't go around sniffing through corporate boards or hang around expensive restaurants in London or New York trying to figure out which companies' directors are discussing deals.

The way it works is - MTN approaches IHS and say, look, we are interested in buying you out in Africa. Are you interested in selling. If both parties are willing to explore the possibility of a deal, then they start formal discussions. These discussions can go on secretly for several months before they finally agree a deal, and announce it.

While it is possible that the government may have heard about those discussions, it is more likely that the government was also kept in the dark and that they heard about the deal at the same time as everyone else.

The thing is even if the government knew the 2 companies were talking, the government didn't need to intervene since a transaction of this size involving a publicly listed company MTN must be cleared by the government anyway before it can be actualised.

So the government can always seat back and wait, and intervene at the appropriate time, which is exactly what they have done here.

As an example, a vehicle licensing agency doesn't need to be monitoring car sellers to know who is buying vehicles in order to remind buyers they must obtain a vehicle licence. They can sit back in their office in the knowledge that buyers will ultimately come to obtain a vehicle licence before they can drive the vehicles on an ongoing basis.

Same principle applies with large business deals that require the approval of the Competition Authority.

no.

Government do sanction big take overs especially if that thing is also somehow linked to national asset.

Look into it.

WorkTheTalk:
IHS towers serve major mobile network operators, including MTN and Airtel Nigeria, through long‑term tower leases and colocation services. IHS controls a majority share of Nigeria’s collocated tower market, reinforcing its leadership in telecom infrastructure.
Now that MTN has bought IHS, I hope it would not undermine or sabotage other operators sharing the same towers. This deal should be thoroughly evaluated.

Such a sensible comment!

We need minds like yours in the government not that old weak dying dog called Tinubu.

1-Why Is Fed Govt-just Coming to this now?
2-What Was Minister Bosun - looking at,Since?
-Dollar $ money 💰- Deal,
3-Was it that The MTN-Never Involved the Govt - in this Acquisition Deal 🤝.
4-Or Is it that Govt- Officials Have Behind the Back Preferred Bidders in Another Competitors?
4-Why This Sudden Awakening From Govt-Officials- After the Media- Reports on What Should Have Been Concluded Before Escalation in the Press?
5-It Seems Govt and Its Agencies,
are not up to date on their Responsibilities,so WHY this Apprehensive behaviors from the Gov to a Private Organization/ Private Sector?
Something Is Fishy here !

NinjaMetahuman:
no.

Government do sanction big take overs especially if that thing is also somehow linked to national asset.

Look into it.

That's if the companies involved tell the government in advance.

As I said in my previous comment, MTN and IHS may not have told the government of their plans in advance.

They're not required to.

And the government didn't need to be asking MTN every month, are you discussing anything with anybody

By law, a deal of this size requires government approval, so it is inevitable that MTN would have to approach the government to obtain approval for the deal, so the government could just wait.

That's exactly what has happened here.

No controversy here. The government has done the right thing.

DeLaRue:
That's if the companies involved tell the government in advance.

As I said in my previous comment, MTN and IHS may not have told the government of their plans in advance.

They're not required to.

And the government didn't need to be asking MTN every month, are you discussing anything with anybody

By law, a deal of this size requires government approval, so it is inevitable that MTN would have to approach the government to obtain approval for the deal, so the government could just wait.

That's exactly what has happened here.
No controversy here. The government has done the right thing.

Mr Man,Are You Working For the Federal Government
Or Are you the Minister of information
Or a Govt-Mouth👄 piece 🧩?
Let the Masses know the TRUTH and let the Govt and their Agencies Speak to the People of Nigeria!
•How Can A Deal 🤝 of $2.6 Billions Dollars 💰 -Pass a Serious Govt-, without Due Process,
Especially In A Telecom Industry - that is always Evolving?
Nigerians want to know more than what we are hearing now from any third parties!
Just FACTS AND TRUTH 😡!

IHS Towers are not the only telecom infrastructure provider in Nigeria. You have aATC and Helios Towers amongst one or two others.

kedeojo:
IHS carried jobs ranging from installation, site programming and maintenance for not only mtn but glo and Airtel. that is a smart move by them. other network will now depend on mtn and that maybe calastrous or they will have to go and source for another company offering similar solution.

saintopus:
This may scare away potential foreign investors to the country

How?

Somebody wants their cut

Emeskhalifa:
Why is this coming just a day after MTN said Nigeria telcos have the capacity of handle E transmission election votes?

I was actually looking for this post. You just said my mind

saintopus:
This may scare away potential foreign investors to the country

This is how it's done in the West. There are dangers due to a monopoly. Use Google, it is free!

nevilbot:
Google what antitrust laws mean then you will realise that you dont really understand the implications of allowing mtn wholly buy what other competitors use before making this comment. Allowing MTN to have a 100% monopoly to an asset that other competitors use is what will drive away foreign investors.

In fact, the govt was sleeping in their duties if MTN already bought that asset before they realised they needed to subject it to regulatory oversight. If they were not sleeping, that deal shouldn't have been allowed to happen in the first place. No sensible country in the world places its critical infrastructure that has ramifications to affect banking, telecoms, national security and data in the hands of one entity, not to talk of a foreign entity like MTN.

The sales can be reversed.

I think say na only notice am...

Emeskhalifa:
Why is this coming just a day after MTN said Nigeria telcos have the capacity of handle E transmission election votes?

The telco guys said Nigeria can transmit results in realtime and typical of Bola ,.he is after them

Bluntemperor:
Mr Man,Are You Working For the Federal Government
Or Are you the Minister of information
Or a Govt-Mouth👄 piece 🧩?
Let the Masses know the TRUTH and let the Govt and their Agencies Speak to the People of Nigeria!
•How Can A Deal 🤝 of $2.6 Billions Dollars 💰 -Pass a Serious Govt-, without Due Process,
Especially In A Telecom Industry - that is always Evolving?
Nigerians want to know more than what we are hearing now from any third parties!
Just FACTS AND TRUTH 😡!

Emeskhalifa:
Why is this coming just a day after MTN said Nigeria telcos have the capacity of handle E transmission election votes?

fight corruption and corruption will fight you back

tonyashburton:
IHS Towers are not the only telecom infrastructure provider in Nigeria. You have aATC and Helios Towers amongst one or two others.

There's also Pan African Towers.

Glo u see ur life

I dont understand the news..
MTN have also almost finish relocating their sites from ATC to IHS Sites .
I just hope it's not International Geopolitics is what its at play.
MTN is South African company A BRIC nation, ATC American Towers which is an American company and MTN relocating all their sites from ATC to IHS and then acquire IHS.
Sincerely, American muscle need to tested and weaken in all aspect.
I can see China handwriting in all of this..
I hope Passive guys will enjoy more..

FuckYeyeMods:
I dont understand the news..
MTN have also almost finish relocating their sites from ATC to IHS Sites .
I just hope it's not International Geopolitics is what its at play.
MTN is South African company A BRIC nation, ATC American Towers which is an American company and MTN relocating all their sites from ATC to IHS and then acquire IHS.
Sincerely, American muscle need to tested and weaken in all aspect.
I can see China handwriting in all of this..
I hope Passive guys will enjoy more..

You just spoke my mind. When MTN started migrating from ATC, I also thought it had to do with America relationship with South Africa. Federal Government should allow the deal to sail through. MTN is eminently qualified for the acquisition without any impact on national security.

erad:
The same thing they do in foreign countries and you all praise them. E reach naija turn, complaints start.

Why will a deal in such a critical sector be reached and the government won't have any oversight functions over it? Does that even sound normal to anyone? If the foreign investors plan on operating without any checks, then maybe they should hold their investment.

Why will government have oversight over an international multinational company. Its like asking META to bring it's source codes for deliberations before they do anything.

IHS wasn't bought by MTN Nigeria. It was bought and owned by MTN group.

MTN NG is a Nigerian public company now.

What is it that you guys ain't getting. Una sha like to antagonise without reason.

decatalyst:
Why will government have oversight over an international multinational company. Its like asking META to bring it's source codes for deliberations before they do anything.

IHS wasn't bought by MTN Nigeria. It was bought and owned by MTN group.

MTN NG is a Nigerian public company now.

What is it that you guys ain't getting. Una sha like to antagonise without reason.

OK sir

DeLaRue:
MTN should not be allowed to own IHS 100%.

Infact MTN should be limited to its current minority interest of 24% shareholding. Otherwise, MTN will become an uncontrollable gatekeeper of the Nigerian economy.

IHS can exit by selling its shares/interest via the New York Stock Exchange where its shares are listed, or find another corporate buyer or group of buyers.

Alternatively, it can hive off and list the African parts of the business in London, and Lagos stock exchanges, or Lagos and Johannesburg. Nigerians, South Africans, and investors from other countries will purchase the shares. The company's headquarters can continue to be in London.

That way, the company is not controlled by one entity, MTN.

This deal is between MTN Worldwide and IHS Worldwide, not their Nigerian operations.

Nigeria is only voicing out as a country the deal would significantly impact, both in the stock exchange and in the telecommunications market.