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Rants, Raves & Reviews
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Safaricom - 10% (not 5%) was stolen! Posted: August 28th, 2007, 5:56pm EDT
Mobitelea, a subsidiary of Thieves, Inc
The crescendo over the, mobitelea stolen indirect 5% ownership in Safaricom, is rising. What many commentators are missing is that it was 10% (not 5%) that was stolen from every Kenyan Man, Woman & Child.
mobitelea - often referred to as moi biwott telecoms of east africa - had stolen 10% but sold 5% in 2002 to its partners in bribery, vodafone, when moi's proxy was going to lose the elections.
The way I figure it out is that Vodafone bought 40% of Safaricom from GOK but had to cough up 10% to mobitelea as "grease" money. A pity but vivendi had to cut a deal with naushad merali (the ty"con") for the 2nd license.
Suggested remedy for the Public & Vodafone?
Well, vodafone should return the 5% to the GOK (to be sold as part of the IPO) for what they paid & a "fair" return. I can't blame them for buying what seemed a bargain. As part of coming clean, they should sell the 5% back to GOK at a discounted price to current market value.
The monies paid by Vodafone to mobitelea should be recovered from mobitelea by the GOK & vodafone.
Thhe 5% that originally "belonged" to mobitelea but then sold by mobitelea to Vodafone.
What of the 5% that still "belongs" to mobitelea?
daniel moi & biwott will support kibaki in the 2007 elections as long as this thievery is kept under wraps!
We need to go after these crooks & retrieve the stolen 5%. As well as any dividends made to them! The 5% are stolen goods!
FOLLOW THE MONEY...