MTN agrees to reduced fine – $1.67bn over 3yrs – shares surge 18%
MTN Group has agreed to pay a reduced fine of $1.67 billion in a settlement with the Nigerian government, sending its shares soaring.
MTN Group has agreed to pay a reduced fine of $1.67 billion in a settlement with the Nigerian government, sending its shares soaring.
Woolworths remains the industry leader in the retail industry and has managed to consolidate its reputation further.
Vodacom raised three-year targets for revenue and earnings as rising investment in its network delivers growth in South Africa and international markets.
MTN’s battle over payment of a record $3.9bn Nigerian fine has cost the company its status as Africa’s highest valued telecommunications operator to rival Vodacom.
MTN says it will cut the full-year dividend to a minimum of R7 this year due to uncertainty surrounding the payment of a record $3.9 billion fine in Nigeria.
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.
Facebook, Microsoft and Google have voiced their opposition to possible regulation of OTT services such as WhatsApp and Skype in South Africa.
South African telecoms group MTN said Tuesday its Nigerian business is likely to report about $955 million in annual profit after tax.
Facebook founder Mark Zuckerberg is determined to open up the Web to India’s 1.25bn people. Of more than a million who responded to a call for comments, most support his plan.
MTN had its record fine in Nigeria increased $500 million to $3.9 billion after the country’s telecommunications regulator said it wrote the incorrect penalty in an earlier letter.