Bourse suspends trading in MTN shares

Pulse Staff 09:24 - 02 November 2015

People chat in front of an electronic board displaying movements in major indices at the Johannesburg Stock Exchange building in Sandton Johannesburg July 9, 2015. REUTERS/Siphiwe Sibeko

Africa's biggest mobile phone firm was fined $5.2 billion last week by Nigerian authorities for failure to cut off unregistered users.

The South African bourse has suspended trading in the shares of telecoms firm MTN on Monday, a senior official said.

"Yes, trading in MTN shares has been suspended and the information was broadcast across the trading platform," said Peter Redman of the exchange's surveillance department.

Africa's biggest mobile phone firm was fined $5.2 billion last week by Nigerian authorities for failure to cut off unregistered users.