MTN Group executives may have expected investors to cut them a little slack after they got potential liabilities of $8.1-billion in Nigeria reduced to $53-million last month. Not so.
Plans to build a superfast submarine broadband cable connecting South Africa and countries in the Middle East, South-Central Asia and Europe, are forging ahead, according to reports.
Eight MTN Group executives netted over 1.3 million shares in the telecommunications giant, valued at R116.9-million at the market price when they were issued at the end of December.
MTN Group CEO Rob Shuter has been granted more than R38-million in shares under the telecommunications operator’s performance share plan. The shares will vest in three years’ time.
Huawei Technologies projected a 21% jump in 2018 revenue, showing off a sharp acceleration in top-line growth despite a difficult year in which it struggled to dispel growing concerns about its business and the security of its products.
Shares in MTN Group rose as much as 8.2% on Thursday morning after the JSE-listed telecommunications operator said it had reached a favourable settlement with Nigeria’s central bank.
Christmas has come early for MTN Group. The telecommunications operator’s shares are likely to soar when markets reopen on Thursday in Johannesburg after it announced it has settled a multibillion-dollar dispute in Nigeria.
Liquid Telecom South Africa plans to spend billions of rand building a national 4G/LTE network in South Africa, and it will offer wholesale roaming services to other operators from early 2019, it said on Friday.
The labour court has issued an order, with the consent of ex-Vodacom exployees, to enforce their restraints of trade after reports emerged in November that they were working with rival MTN South Africa.
Cell C has become the second major mobile operator in South Africa, after Telkom, to comply fully with communications regulator Icasa’s new data-expiry rules.