MTN Nigeria fine reduced by a third
The Nigerian Communications Commission has decided to reduce the fine imposed on MTN by 35%, the telecommunications group said on Thursday. The size of the fine remains by far the largest fine ever...
View ArticleMTN in huge restructuring, management overhaul
The telecommunications group has received a major shake-up, which has resulted in the appointment of a new chief operating officer and the "resignation" of the CEO of its Nigerian operation. Nigerian...
View ArticleNigeria tells MTN: give us R7,7bn more
The Nigerian Communications Commission (NCC) has told MTN that it didn't actually mean it when it said it had cut the fine it imposed on the telecommunications operator by 35%. In a second letter to...
View ArticleMTN hasn’t asked us for help yet: Cwele
MTN hasn’t yet asked South Africa’s department of telecommunications & postal services for help regarding its multibillion-dollar fine in Nigeria. This is according to telecoms minister Siyabonga...
View ArticleReduction of MTN fine a ‘positive’ move
Nigerian regulators' decision to reduce MTN’s multibillion-dollar fine is a “positive” move and if the penalty was “arbitrary”, then the company would have turned to the courts. This is according to a...
View ArticleMTN fine is a state-sanctioned mugging
It’s time to call the situation South African telecommunications group MTN is facing in Nigeria what it really is: a state-sanctioned mugging. The Nigerian government, through its communications...
View ArticleMTN takes Nigerian authorities to court
MTN has decided to take the legal route to challenge a US$3,9bn fine imposed on it by the Nigerian Communications Commission. This is after it exhausted all other options to have the fine reduced, it...
View ArticleMTN hires seven advocates for Nigeria battle
MTN has engaged seven Nigerian senior advocates to fight the US$3,9bn fine imposed on it by the Nigerian Communications Commission for failing to disconnect more than 5m
View ArticleNigeria plays hardball with MTN
The Nigerian government is playing hardball with MTN, demanding that the telecommunications operator pay a US$3,9bn (R59bn) fine for failing to cut off 5m unregistered Sim cards by 31 December,...
View ArticleMTN acquires rival Nigerian operator
Far from pulling out of Nigeria over the record-setting US$3,9bn fine imposed on it by regulatory authorities in the West African nation, MTN has reportedly gone ahead with the acquisition of
View ArticleMTN wins early victory in Nigeria
South Africa’s MTN Group has won an early victory in its legal battle with Nigerian authorities, securing the right to transfer money out of the West African nation after the federal government sought...
View ArticleMTN, Vodacom market caps now matched
MTN's market capitalisation is in danger of falling below that of rival Vodacom as investors continue to fret about the unprecedented fine the group is facing in Nigeria and uncertainty about its...
View ArticleMTN Nigeria set to post R15,9bn profit
MTN's Nigerian operation is likely to report a profit after tax of approximately R15,9bn for the year ended 31 December 2015, it was revealed on Tuesday. The JSE-listed telecommunications operator,...
View ArticleMTN runs into trouble in Cameroon
MTN could be forced to cough up as much as R1,5bn to Cameroonian authorities after a special anti-corruption commission, known as Conac, found that the operator, along with rival Orange, owed nearly...
View ArticleHopes raised of MTN Nigeria settlement
A court in Nigeria has given MTN and the Nigerian Communications Commission two months to try to settle a dispute over a record-setting US$3,9bn fine imposed on the telecommunications operator by the...
View ArticleMTN share price jumps 42% in a month
Volatility in MTN's share price has seen the counter add more than 42% since its 52-week low just a month ago as investors pile back in on a range of factors, including the publication in two weeks of...
View ArticleMTN warns profits to fall sharply
MTN's headline earnings per share for the year ended 31 December 2015 will fall by at least 20%, the JSE-listed telecommunications group warned investors on Thursday after markets closed. The group has...
View ArticleInvestors dump MTN after profit warning
MTN’s share price fell by more than 20% at one stage in trading on the JSE on Friday after warning on Thursday after markets closed that its headline earnings per share would fall by more than 20% for
View ArticleMTN hikes dividend despite troubles
Despite the hellish time it had in Nigeria in the final quarter of its 2015 financial year - facing a fine of US$3,9bn from regulators there - telecommunications group MTN has announced it is hiking...
View ArticleMTN said to make progress on fine settlement
MTN on Friday warned shareholders that reports that it has proposed to pay 300bn naira (about US$1,5bn; R23bn) to settle the fine imposed on it by the Nigerian Communications Commission
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