Wednesday, 9 March 2016

MTN responds to reports of listing on Nigerian Stock Exchange

South African telecoms giant, MTN Group, says it has no plans to list its Nigerian unit on the Nigerian Stock Exchange.

In a statement issued by the telecom giant’s Corporate Affairs Executive, Chris Maroleng, the group described the reports as untrue.

Mr Maroleng further stated that the listing of MTN Nigeria remains a consideration and not a planned listing, as suggested in some of the media reports

Reports had suggested that the only thing stopping the group from listing in Nigeria was the 780 billion Naira penalty imposed on it for failing to comply with directives from the NCC to disconnect 5.1 million unregistered sim cards, and was planning to list as soon as the matter was resolved.

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