Tag Archives: assets


San Miguel – Pldt-Globe Deal Enough To Recoup Telecoms Investment

By Enrico Dela Cruz Manilla (Reuters) – Philippine amass San Miguel Corporation’s (SMC.PS) $1.5 trillion sale of assets to the commonwealth’s two briny telecoms players was good plenty to deduct the food-to-power aggroup’s investiture in a six-year effort to chassis a front in the telecoms industriousness, its chair aforesaid on Tuesday. San Miguel agreed to trade the assets, including prized 700 mc spectrum, to Philippine Longsighted Space Call Co (PLDT) (TEL.PS) and World Telecommunication Inc (GLO.PS) for 69.1 1000000000 pesos ($1.5 1000000000000) in a flock proclaimed on Monday. The sale came two months afterwards negotiation on a potential spliff hazard with Australia’s Telstra Corporation Ltd (TLS.AX) collapsed. Rental go of the telecoms assets was a "hard" but requisite run, San Miguel Prexy Ramon Ang aforesaid at a word league on Tuesday. Without mentioning companies by diagnose, he aforesaid around potentiality partners had been deterred by effectual complexities encompassing the exploitation of the nation’s telecoms diligence.

PLDT had antecedently aforementioned it was considering action against the Interior Telecommunications Committal, the manufacture governor, terminated the latter’s dictum that it would be unmanageable to reapportion the 700 MHz spectrum because it was already assigned to San Miguel. Ang aforesaid on Tuesday he had not sought-after any bounty for the plus sale, so that negotiations could be quick ended and PLDT and Orb could start ferment to better their services. Payoff from the sale would add to San Miguel’s already gravid cashpile with a panorama to beingness reinvested in heart businesses alike price roadstead, nutrient, petrochemical and oil refinement, Ang aforementioned. (Coverage by Erik dela Cruz; Redaction by Manolo Serapio Jr. and Kenneth Mx)

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After British Corruption Slip, Nigeria Demands Stolen Assets Back

One of the ex-governors is service a prison condemnation in Britain later imploring shamefaced to money-laundering. Nigeria is listed at figure 136 out of 167 in effort radical Foil External’s modish Putrescence Perceptions Indicant, an one-year superior of countries in which a higher numeral indicates a higher layer of sensed putrescence. Fleer Regulator Britain lies equate Tenth with Germany and Luxembourg. But British foe politicians and anti-corruption campaigners let aforesaid Cameron was ill-placed to knock Nigeria when Britain’s own disk on combating putrescence was less than splendiferous. They bear aforesaid that buy politicians and businesspeople from Nigeria and many early countries get laundered their dirty gains in Britain’s prop commercialise, patch London besides has ties to legion tax havens routinely ill-used to veil stolen money.

In his remarks on Wednesday, Buhari alluded to the showcase of Diepreye Alamieyeseigha, one-time regulator of the oil-producing posit of Bayelsa in the Niger Delta, who was arrested in London in 2005 on distrust of money-laundering. Alamieyeseigha skipped bond and fled binding to Nigeria dressed-up as a charwoman. He was ulterior impeached, time-tested and convicted in Nigeria of larceny millions of dollars of populace money. "He (Alamieyeseigha) had to attire alike a womanhood to will Britain and leave his trust history and rigid assets which Britain was fain to render to us.

By Georgina Cooper and Estelle Shirbon LONDON (Reuters) – Nigerian Prexy Muhammadu Buhari demanded on Wednesday that Britain comeback assets held thither by cloud Nigerians, pointing the thumb rear at London afterwards Britain’s chancellor suggested Nigeria was "incredibly cloud". David Cameron’s remarks during a conversation with Faggot Elizabeth, caught on camera on Tuesday, sustain soh henpecked the build-up to a world-wide anti-corruption crown he is hosting on Thursday which Buhari leave assist. During a pre-summit result in London, Buhari was asked to answer to Cameron’s gloss that Nigeria and Afghanistan were "maybe two of the virtually defile countries in the mankind". He has since illustrious that the leadership of both countries are running gruelling to battle putrefaction. "I am not passing to exact any apologia from anybody.

What I am demanding is the counter of assets," Buhari aforementioned at an consequence, to clapping from Nigerians in the hearing. "What would I do with an excuse? I pauperization something palpable," he aforementioned, detrition his fingers unitedly in a gesticulate unremarkably victimized to consult to money. The consultation laughed. Buhari has a report for personal probity and has sworn to pass kill on putrefaction in Nigeria, Africa’s top oil manufacturer and nearly populous state where generations of politicians deliver ransacked populace coffers for their personal amplification. Buhari did not designate which assets he was talk roughly.

British law get conducted respective investigations in late age into assets held in Britain by Nigerian politicians, including two old submit governors and a other oil rector. This is what we are request for," Buhari aforesaid. Britain’s Section for External Ontogenesis (DFID) could not straightaway render details of any assets returned to Nigeria. (Authorship by Estelle Shirbon Redaction by Jeremy Bony.)