Quid pro quo? MTN wins Nigeria’s new spectrum auction, coverage up to 90%
Africa’s biggest mobile telecoms operator MTN’s Nigerian subsidiary has won a 10-year radio spectrum licence for mobile broadband services.
Africa’s biggest mobile telecoms operator MTN’s Nigerian subsidiary has won a 10-year radio spectrum licence for mobile broadband services.
Nigeria’s telecommunications regulator NCC has not yet received any payment towards a possible fine from South African telecoms firm MTN.
Mobile phone operator MTN withdrew its lawsuit against Nigeria’s regulator over a $3.9 billion fine and paid $250 million towards a possible settlement.
Shares in mobile network MTN slid around 13% on Friday morning after the company forecast a 2015 earnings drop of at least 20%.
Nigeria and South Africa’s MTN are seeking an “amicable” out-of-court settlement over a $3.9 billion fine imposed on the cell phone operator.
MTN should drop its legal action over a $3.9bn fine imposed in Nigeria to help facilitate talks on a possible settlement, says the telecommunications minister.
Nigerian authorities will wait for the outcome of a court challenge filed by South African telecoms firm MTN before deciding on whether to enforce a $3.9 billion fine.
The numbers don’t question why MTN was fined, or whether or not the company should pay it. They just question the total value of the fine.
MTN Group will lobby for further reductions to a fine imposed by Nigeria, a source familiar with the matter said, after authorities in its biggest market cut the penalty by more than a third to $3.4 billion.
The Nigerian Communications Commission has cut the fine imposed on MTN to $3.4 billion from $5.2 billion, payable by the end of this month.