MTN offered some good news out of Nigeria on Tuesday‚ saying the authorities had renewed its licence for another five years‚ the newspaper reported.
After a torrid week‚ its stock rose 5% to close at R155.54 after the announcement.
It is however still caught up in a crisis over a $5.2bn fine from the Nigerian Communications Commission (NCC) for unregistered SIM cards on its network and on Tuesday it was unclear whether the payment of the fine was linked to the renewal.
Its original licence was issued in 2001 and is due to expire in February next year.
The five-year licence period is much shorter and could put further pressure on MTN in its single largest market.
MTN licence renewed but penalty still an issue
MTN offered some good news out of Nigeria on Tuesday‚ saying the authorities had renewed its licence for another five years‚ the newspaper reported.
After a torrid week‚ its stock rose 5% to close at R155.54 after the announcement.
It is however still caught up in a crisis over a $5.2bn fine from the Nigerian Communications Commission (NCC) for unregistered SIM cards on its network and on Tuesday it was unclear whether the payment of the fine was linked to the renewal.
Its original licence was issued in 2001 and is due to expire in February next year.
The five-year licence period is much shorter and could put further pressure on MTN in its single largest market.
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