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South Africa's telecom says may list in Nigeria once fine resolved

Pulse Staff
Pulse Staff 08:50 - 03 March 2016
A security officer checks a man outside the Nigerian Stock Exchange in Lagos April 8, 2014. REUTERS/Akintunde Akinleye
A security officer checks a man outside the Nigerian Stock Exchange in Lagos April 8, 2014. REUTERS/Akintunde Akinleye
MTN also said it has set aside 9.3 billion rand ($600 million) to cover a potential settlement of a fine imposed by Nigerian authorities last year for failing to cut of unregistered SIM card users.
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South Africa's MTN Group may list its Nigerian unit on the stock exchange in Lagos once it has resolved a disputed $3.9 billion fine with authorities in the Western African nation, its executive chairman said on Thursday.

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Shares in the mobile company rose more than 9 percent to 149 rand by 0845 GMT.

($1 = 15.645 rand)

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