MTN provides update on Nigerian fine negotiations and issues further cautionary
Telecoms and mobile operator MTN on Monday said its executive chairman Phuthuma Nhleko had met Nigerian authorities to "continue ongoing discussions with them" regarding the $5.2bn fine recently levied against the company by authorities in that country.
"Although the Nigerian Communications Commission (NCC) set a deadline for payment of the fine by Monday, November 16 2015, shareholders are advised that the Nigerian authorities have, without prejudice, agreed that the imposed fine will not be payable until the negotiations have been concluded," the company said.
MTN said it was "committed to resolving the matter as soon as possible" and would continue to update stakeholders as news surfaced.
It again advised shareholders to continue exercising caution when dealing in its shares until a further announcement was made.
Source: BDpro