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.
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.
The group’s chief innovation officer, Herman Singh, is expected to leave to start his own tech venture, sources said, following chief technology officer Babak Fouladi out the door.
MTN Group is making “great progress” with Nigerian authorities in talks about US$10.1-billion in claims, encouraging Africa’s largest wireless carrier that it can settle the long-running dispute out of court.
Two years after pulling the plug on its Mobile Money service in South Africa, MTN Group plans to relaunch the service in South Africa, according to sources close to the matter.
MTN Group plans to buy music streaming provider Simfy, according to a report.
Is MTN Group on the verge of being chased out of its biggest market? Not a bit of it, according to CEO Rob Shuter.
MTN Group has boosted sales ahead of targets in the third quarter, showing its ability to grow the business even with a major regulatory spat that’s rocked shares of Africa’s largest wireless carrier.
Nigeria’s central bank governor will meet with MTN Group and four banks to negotiate a dispute over $8.1-billion the bank says was transferred illegally out of the country, sources said.