Femi Otedola returns to Dangote Cement with reported plan to build $700 million position

Nigerian billionaire Femi Otedola is reportedly buying shares in Dangote Cement and seeking to build an interest of up to 5% in Africa’s largest cement producer. At Dangote Cement’s closing price of ₦1,111(82 cents) on 23 October, a 5% holding would be worth approximately ₦936 billion, or $700 million. Femi Otedola is…