MTN Nigeria receives a reduced fine
JOBURG – MTN shareholders are advised that, after further engagements with Nigerian authorities, the Nigerian Communications Commission reduces imposed fine.
MTN received a formal letter from the Nigerian Communications Commission (NCC) on 2 December, informing the company that, after considering the company’s request, it has taken the decision to reduce the fine on the MTN Nigerian business from the original US$D5.2 billion to US$D3.4 billion, which has to be paid by 31 December. The fine relates to the late disconnecting of 5.1 million MTN Nigeria subscribers in August and September.
According to MTN SA public relations specialist Mamello Raborifi, the company is carefully considering the NCC’s reply, however the executive chairperson Phuthuma Nhleko will immediately and urgently re-engage with the Nigerian authorities before responding formally, as it is essential for the company to follow due process to ensure the best outcome for the Company, its stakeholders and the Nigerian authorities. Accordingly, all factors having a bearing on the situation will be thoroughly and carefully considered before the company arrives at a final decision.
Shareholders have therefore been advised to continue to exercise caution when dealing in the Company’s securities until a further announcement has been made.
Questions were sent to Raborifi as to how this will affect South African customers, and comment is awaited.
Details: MTN 011 912 3000/011 912 3001.
Related Stories:
MTN appoints Nhleko as executive chairman
