Billionaire businessman, Femi Otedola, has revealed that his offer to buy Nigerian conglomerate, Transcorp Corporation Plc, for N250bn was rejected.

This came to light in a statement he issued to news medium – TheCable, weeks after the businessman acquired stakes in Transcorp and sold the shares.

He revealed that he had bought the shares of the company because he believed in the potential of the group to hit N2tn in valuation.

Going down memory lane, the majority shareholder in Geregu Power had also in the write up revealed some business deals between him and the chairman of Transcorp, Tony Elumelu.

Otedola, however, lamented that stakeholders in Nigerian companies were getting shortchanged by the owners and managers.