MTN Group is gauging investor interest for its first sale of rand-denominated bonds in seven years as Africa’s largest mobile phone operator struggles to repatriate earnings from its Nigerian business. MTN is “approaching the market and we will see
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MTN Group on Thursday reported a headline loss of 77c/share for the year ended 31 December 2016 as a perfect storm, headlined by a multibillion-rand fine in Nigeria, its biggest market, culminated in what it has
MTN Group has been having a tough time of it in Nigeria, its most lucrative market. Protesters last week vandalised the company’s headquarters in the capital, Abuja, in retaliation for xenophobic
Telecommunications group MTN warned on Wednesday that it will report a loss for the 2016 financial year due in large part to the regulatory fine imposed on it in its biggest market, Nigeria. It said it expects to report a loss in both basic headline
MTN Group may put off plans to list its Nigerian operation until 2018 as Africa’s largest wireless carrier works to resolve a regulatory dispute and awaits an economic recovery in the continent’s most populous country. “It’s a work in
MTN Group’s plan to sell shares in its Nigerian unit on the local stock exchange next year is at risk following allegations by lawmakers that Africa’s biggest wireless carrier illegally moved almost
MTN Group executive chairman Phuthuma Nhleko has sold shares worth about R123m as he prepares to hand over the day-to-day running of Africa’s biggest wireless company to incoming CEO Rob Shuter. Nhleko will also benefit from the
Margins at MTN South Africa have shown strong improvement in the third quarter, the telecommunications group said in a statement to shareholders on Monday. Revenue improved by 3,6% quarter on quarter, while margins
MTN Group, responding in detail to allegations that the wireless carrier illegally moved more than US$14bn out of Nigeria, said central bank approvals were obtained before any dividends were issued. “No dividends were declared
MTN Group may have illegally moved more than the previously claimed US$14bn out of Nigeria, a lawmaker said, citing early findings from an investigation into the allegation by international forensic experts. “We have realised from