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N1.4trn fine: MTN set to enlist in NSE in 2017— Group

By Emmanuel Elebeke

ABUJA — In compliance with the agreement with the Federal Government, MTN Group has said it was now set to enlist its Nigerian-based operations in the Nigeria’s stock exchange in 2017 market season.

The group, however, said the move would be reliant on suitable market conditions, stating that all was now set for it to embark on the preparations for the NSE listing as soon as it was “commercially and legally” possible, with a management task team established to undertake the process.

This undertaking, the company said, formed part of a settlement arrangement with the Nigerian government after MTN Nigeria incurred a multibillion-dollar fine for failing to deactivate 5.2 million unregistered cell phone SIM cards by August 2015.

 

 


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