Kenya Airways Sold to "Unknown" Kenyan Banks

[Omollo]

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I would be willing to bet Uhuru Kenyatta and mama have now acquired KQ

[RV Pundit]

Loans converted to Equity. Why would a bank be interested in a loss -making porfolio. This is bad deal for the banks involved but they made a bad call to loan to KQ and now they have to wait until it's profitable to cash out.

[Kadame5]

What in God's name happened to our beloved KQ, pride of Africa? Who should we seriously dislike for the disaster that has befallen it?  

[vooke]

Loans converted to Equity. Why would a bank be interested in a loss -making porfolio. This is bad deal for the banks involved but they made a bad call to loan to KQ and now they have to wait until it's profitable to cash out.

Most of these loans are unsecured and are being written off or provisioned for...means lower profit reporting. I think shares are good for them because they are not likely to sink further meaning they won't be posting losses.

So it's pure accounting bullshiet 

[vooke]

To further kill conspiracies, some banks are hearing none of it
http://www.businessdailyafrica.com/news/KQ-recovery-plan-faces-banks-challenge/539546-4019160-g0ihvm/index.html