AOL Sells 36% Share in Nigerian Government

AOL/Time-Warner have long sought a wide variety of investment and market opportunities to bolster and diversify their investment portfolio. Much as Paul Allen bought, and later sold his stake in AOL, AOL has found this to be the right time to divest their controlling interest in the Nigerian national government.

AOL spokesman Harold Thumo says, "we bought in at a good price, had a couple of side deals lined up for exporting goods, boosting tourism and getting some foreign seed money in there," but adds, "we feel our ability to streamline the operation for maximum profit has reached a place where we can't help it anymore."

Skeptics have pointed to Nigeria's ability to fleece more Americans for non-existent goods and services to still exceed that of AOL, and points to this as a very prominant reason for ending the partnership.

The value of stock in the Nigerian government has climbed steadily since AOL's investment in it in 1998. From an initial share price of 26-shares per goat, to $14.46 (real, American) dollars per share.

AOL is a publicly traded company, with assets in excess of 3K'Jillion dollars.

Other Top Stories

Also, check out our complete, up to the minute news roundup, featuring only the finest, freshest news stories from around the globe.