January 24, 2018

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MTN refutes rumours of Nigeria listing

MTN refutes rumours of Nigeria listing

MTN on Monday strongly denied plans to list in Nigeria, saying the media had reported on its plans inaccurately.

On Thursday, the MTN Group held a media briefing to announce its financial results for the year ended December 31 which showed profit plunged 51 percent as the Africa’s largest mobile operator battled poor economic conditions in South Africa,

regulatory hurdles, a hefty fine in its largest market, Nigeria, and changes in its top management team.

Subsequent reports following the media briefing suggested that the giant mobile operator had hinted at a secondary listing in Nigeria. MTN Group spokesperson, Chris Maroleng, in a statement said this was “grossly inaccurate”. Maroleng said MTN was particularly perturbed that despite the extensive engagements in the day, the media coverage around MTN results had been characterised by grossly inaccurate media reports and misinformation. Read more

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