Nigeria In One Minute
Arik share value already eroded – AMCON
The Asset Management Corporation of Nigeria has laughed off the suit instituted by shareholders of Arik Air against the Federal Government and Ethiopian Airlines over purported talks to rescue the troubled carrier.
According to AMCON, the fact that the Arik is hugely indebted to various creditors to the tune of over N300bn, and has been taken over by the corporation has eroded the share value of the airline, hence the shareholders have nothing to hold on to again.
AMCON spokesperson, Jude Nwauzor, told PUNCH correspondent on the telephone that if the erstwhile owners of the airline come forward and settle the indebtedness, the corporation would immediately call a press conference and hand the company over back to them.
He also reiterated AMCON’s earlier position that it was not in any current discussion with the management of Ethiopian Airlines for the takeover of Arik.
PUNCH, September 12, 2017
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