MTN Group, Africa’s biggest wireless operator by sales, and minority shareholders in its Nigerian business are seeking to raise about US$1bn in an initial public offering, a condition tied to the settlement of a record fine imposed by the West African government, people familiar with the plan said.
Operationally, the time-suck on executive leadership from the Nigerian fine fallout had nothing to do with its other units across Africa and the Middle East. It’s always managed to run its “OpCos” quite independently, which arguably has a few more
MTN Group will consider raising its full-year dividend above forecasts if business conditions improve after the settlement of a record fine in Nigeria led to the first-ever half-year loss at Africa’s biggest mobile phone
MTN has hit a perfect storm of bad news in the first half of its 2016 financial year, with the telecommunications group warning that it will report a basic headline loss per share of between R2,55 and R2,85 on Friday when it
MTN Group shares gained the most in more than five weeks after Africa’s biggest mobile phone operator booked the full value of a 330bn naira (US$1bn) fine in Nigeria, drawing a line under a 10-month saga that
MTN Group has kick-started the process of listing its biggest subsidiary, MTN Nigeria, on the Nigerian Stock Exchange. It said it intends to float the shares “as soon as commercially and legally possible”. The South
Telecommunications group MTN warned on Tuesday that its profits for the six months ended 30 June 2016 will have come under pressure as a result of the record-breaking fine imposed on it in Nigeria and pressures
MTN Group fell in Johannesburg trading as Africa’s largest mobile phone company said it expects to report a first-half loss after agreeing to pay a record fine in Nigeria. The shares dropped by
MTN Group chief financial officer Brett Goschen is stepping down. He will leave at the end of September “to pursue other interests”, the telecommunications group said in a statement to shareholders on Monday morning.
MTN has dished out R5,2m worth of shares to the CEO of its South African unit, Mteto Nyati. In a statement to shareholders on Friday, MTN said it had provided Nyati with an “off-market award of shares” as part of its performance share plan
