Browsing: Rob Shuter
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.
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.
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 wants to end a dispute with MTN Group over a claim that the carrier illegally transferred $8.1-billion out of the country, an indication relations between the two parties have started to thaw.