FCCPC casts shadows on Shoprite exit from Nigeria

Vanguard News
FCCPC casts shadows on Shoprite exit from Nigeria
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By Princewill Ekwujuru
The Federal Competition and Consumer Protection Council (FCCPC) said it is not aware that retail conglomerate, Shoprite, is exiting Nigeria, but that there is a pending application for merger/acquisition involving it.
The Executive Vice President/Chief Executive Officer, FCCPC, Dr Babatunde Irukera, in a telephone conversation with Vanguard said: “We do not know whether Shoprite is exiting Nigeria or not, but we have a pending application for merger /acquisition by a buyer.
“The media can report anything, what I know is that there is a pending merger/acquisition application in my office. Merger/acquisition applications do not suggest whether a company is leaving or not. What I know is that we have an application for merger/acquisition here.”.

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