{"id":408782,"date":"2018-03-11T10:00:44","date_gmt":"2018-03-11T10:00:44","guid":{"rendered":"http:\/\/citifmonline.com\/?p=408782"},"modified":"2018-03-11T09:58:25","modified_gmt":"2018-03-11T09:58:25","slug":"unibank-adb-saga-misreported-takeover-trivial-casely-hayford","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2018\/03\/unibank-adb-saga-misreported-takeover-trivial-casely-hayford\/","title":{"rendered":"uniBank, adb saga: Misreported takeover ‘trivial’ – Casely Hayford"},"content":{"rendered":"
The saga over the purported takeover\u00a0adb\u00a0by\u00a0uniBank is overblown and ultimately inconsequential,\u00a0Financial Analyst Sidney Casely Hayford has said.<\/p>\n
“It is a trivial story. There is nothing in this. It has become a story in the media because the reporter who heard the story from wherever or whoever leaked the story to him didn\u2019t quite understand what was happening,\u201d he remarked on The Big Issue<\/strong>.<\/p>\n [contextly_sidebar id=”yEwalOgsarrArd2PQguGpGHd4ZD3eQae”]On Wednesday, the banking sector woke up to reports that uniBank had taken over adb after four shareholders of the development bank; comprising Belstar Capital, Starmount Development company, EDC and SIC Financial Services Limited, pledged their shares, proceeds, entitlements and voting rights to uniBank.<\/p>\n The Chief Executive Officer of uniBank, Dr. Kwabena Duffour Jr. later told Citi News<\/strong> that uniBank had control over adb and that the move was in the best interest of the banking industry.<\/p>\n This was however followed by a u-turn from uniBank, after adb\u00a0was suspended by the\u00a0Ghana Stock Exchange and the Bank of Ghana announced that it had not approved a purported takeover.<\/p>\n adb\u00a0also came out to deny media reports that uniBank had taken over its operations.<\/p>\n Mr. Casely Hayford was of the view that the genesis of this saga was engineered by the uniBank CEO and that he should accept blame for the matter being blown out of proportion.<\/p>\n “I blame Kwabena Duffuor Jr for putting such a story out because it is very amateurish and it is totally frivolous. I think he is in too much haste. This could have easily been a business discussion that has gone but he has hastily gone out into the public and gone and made a statement and this has now created all this confusion.\u201d<\/p>\n He maintained that “from day\u00a0one, this whole thing is a non-story and that is what we have to be very clear about.\u201d<\/p>\n Storm in a teacup<\/strong><\/p>\n Also on The Big Issue, another Financial Analyst Toma Imirhe said any potential takeover of adb\u00a0by uniBank will not happen.<\/p>\n