MTN focused on preparing for Nigerian IPO in next 6 months – CEO Rob Shuter
MTN is focused on laying the groundwork for an initial public offering of its Nigerian business and should complete the process in the next six months.
MTN is focused on laying the groundwork for an initial public offering of its Nigerian business and should complete the process in the next six months.
The Black Management Forum has expressed its disappointment at the appointment of Rob Shuter as MTNâs new chief executive officer.
MTN named Vodafone European cluster head Rob Shuter as its new chief executive on Monday, ending a near eight-month hunt for a boss.
MTN’s battle over payment of a record $3.9bn Nigerian fine has cost the company its status as Africaâs highest valued telecommunications operator to rival Vodacom.
The Public Investment Corporation described as âexcessiveâ a payment made to former MTN Chief Executive Officer Sifiso Dabengwa, who resigned after a record Nigerian fine.
South Africa’s MTN paid its former chief executive officer Sifiso Dabengwa $1.6 million after he resigned over a record fine imposed on the company by Nigerian authorities.
Phuthuma Nhleko, who returned to lead MTN’s negotiations over a record $3.9 billion fine in Nigeria, is moving forward with plans to step down next month, says a person familiar with the matter.
MTN had its record fine in Nigeria increased $500 million to $3.9 billion after the countryâs telecommunications regulator said it wrote the incorrect penalty in an earlier letter.
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.