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
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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
MTN Group is considering abandoning the acquisition of Nigerian Internet provider Visafone Communications after the country’s industry regulator ruled that broadband spectrum shouldn’t be included in the deal, according to two
MTN Group is considering selling about $500m in shares of its Ghana business, according to people familiar with the matter. The company is approaching high-net-worth individuals in the country about
MTN has hit back at allegations emanating from Nigeria’s senate that it illegally moved almost US$14bn (about R188bn) out of the West African country. The company is accused of repatriating the funds over 10