MTN Says May List on Nigeria Bourse after Fine Resolution-Reuters

MTN

By InvestAdvocate

Lagos (INVESTADVOCATE)-The MTN Group said it may list its Nigerian unit shares on the Nigerian Stock Exchange (NSE), according to a Reuters report on Thursday.

The report said the listing maybe considered after the company has resolved the dispute surrounding the $3.9 billion fine with Nigerian authorities, quoting the telecoms company executive chairman.

According to Reuters, MTN also said it has set aside 9.3 billion rand ($600 million) to cover a potential settlement of a fine imposed by Nigerian authorities last year for failing to cut of unregistered SIM card users.

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