MTN reports 2% rise in subscribers, as competition bites

JOHANNESBURG (Reuters) – MTN Group, Africa's largest mobile operator, reported a slight increase in quarterly subscribers on Thursday, as it was squeezed by stiff competition as well as tougher regulation in its key Nigerian market.

MTN said its number of subscribers increased by 2 percent in the three months to end-September, bringing its customer base to 219 million users across Africaand the Middle East.

In its home market of South Africa, where it lags behind rival Vodacom, MTN said it added 1.4 million new subscribers.

"Performance was impacted by continued aggressive competition and stringent regulatory requirements," Chief Executive Sifiso Dabengwa said in a statement.

Data revenue is up 34 percent so far this year, and now contributes to nearly 18 percent of its total revenue, the company said.

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