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WHO WOULD OWN IT ? COURT ORDER AIRTEL TO REVERT TO ECONET

Okay! How am I going to tell this story. Okay I'll put it like this;



Let's say I know this guy who knows someone who works in one of the companies just mentioned, now this person told me that while he was working he received word that his company is on the brink of a name change,and should it happen - this would be the fastest change in a series of popular changes.



From major News sources Econet Wireless Limited(worldwide) was never a party to the sale of Econet Nigeria in 2003 and has since been pursuing legal means to reclaim their ownership (holding rights) in the Nigerian company that was being managed at the time by company chairman Oba Otedola before it was sold to Celtel Africa.



NOW - Today saw the end of the legal battle that has lasted almost a decade as the Federal High Court ordered Airtel to revert to its initial name "Econet". The court also nullified all transactions concerning change of ownership since 2003 as these actions were not carried out together with Econet Wireless.



At this point am really confused about what's going on over there, will this mean Econet will take over ? Or will Airtel continue business in Nigeria as an Econet owned company? Whatever the case, am sure the answers will soon be clear for everyone to see, for now Airtel is still trying to appeal the judgement about Econet's capacity to own the Nigerian company.

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