The MTN Group plans to raise about $500 million from the sale of shares in its Nigerian business during the first half of the year, fulfilling the terms of a deal struck with the West African nation to settle a record fine, according to people familiar with the matter.

Standard Bank Group Limited and Citigroup have been advising Africa’s largest mobile-phone company on the disposal of as much as 30 percent of the Lagos-based unit on the Nigerian Stock Exchange, Bloomberg quoted people who asked not to be identified as the details aren’t public.

Most of the shares will be sold to local institutions and individuals, though foreign investors could be brought in to ensure the process is a success, one of the people said.

Discussions are on-going and a final decision hasn’t been made, they said.

Spokespeople for MTN and Citigroup in Johannesburg didn’t immediately comment. Standard Bank didn’t immediately respond to calls seeking comment.

MTN agreed to list the Nigerian unit as part of a June 2016 agreement to pay a $1 billion fine for missing a deadline to disconnect unregistered subscribers amid a security crackdown.

The penalty, originally set at $5.2 billion, led to the resignation of the Johannesburg-based company’s then chief executive officer and a slump in the share price that’s yet to be clawed back.

The stock extended gains, and traded 4.5 percent higher at 128.83 rand as of the close in Johannesburg, giving a market value of 243 billion rand ($20 billion).

If successful, the Lagos share sale will be the biggest on the Nigerian Stock Exchange after Starcomms Plc, which raised $796 million when it listed in 2008, according to data compiled by Bloomberg.

MTN, Nigeria’s biggest mobile-phone company with just over 50 million subscribers as of end September, slumped to a loss in 2016 as it absorbed the financial impact of the fine, though said last month it returned to profit the following year.

Nigeria and other sub-Saharan African governments are trying to gain more from international mobile-phone operators taking advantage of rising smartphone use and faster data speeds.

MTN has also agreed to sell shares in Ghana as one of the conditions of a deal to gain spectrum rights, while Vodacom Group Ltd., South Africa’s market leader, was ordered to list 25 percent of its Tanzanian business last year, raising $213 million.

 

SOURCE: https://brandspurng.com/mtn-plans-500-million-share-sale-in-nigeria/

Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

Obviously this comment was made at a time when I was very tired and sleepy


The information I meant to pass wasn't for MTN it was for multichoice and their licence renewal comes up in 2019 not 2017 I mean sensible people can connect the dots themselves and correct as necessary, as for the idiots insulting me for this mistake I hope you got your pound of flesh


I'm coming for you

Interesting

Empty-hen

i tire dis morning jor.

Meaning
Get your website ready with affordable price check my signature

F

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

June 2017?

Something is not right with this sale. We are waiting.

Meanwhile, have they paid their fine?

Why do I feel this has a shady undertone?

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

Why? Because of the fine?

Owing MTN shares would be a good investment.

B

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

Another senseless comment from you again ..june 2017 indeed ...All you Buhari sadist praying for MTN to fall you are the ones that will fall to your disgrace instead .

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

The above is FAKE NEWS. MTN's licence was renewed in 2015. Next renewal will not come up until 2021

http://thenationonlineng.net/ncc-okays-mtns-n18-6b-spectrum-licence-renewal-bid/

[Quote]NCC okays MTN’s N18.6b spectrum licence renewal bid
Posted By: Lucas Ajanaku On: November 4, 2015 In: Business


The Nigerian Commununications Commission (NCC) has granted MTN’s application for renewal of its licence.

MTN has uptil next month to pay the $94.2 million (about N18.6billion) for the renewal, which will subsist till 2021.[/Quote]

Time to invest

Good for them. All i want is cheaper calls and cheaper data sub.

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GMBuhari post=
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o.





That one is for Dstv.

Another plot to exploit us and take the bounty to ZA...

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

If I hear that they won't renew their operating license, MTN is their oil mill

This is one of the few shares I can confidently buy in Nigeria

Just imagine how you are fooling yourself this Monday morning. Please, stop giving people false info

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

They want to rob Paul to pay Peter. God is watching you

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

June 2017...

Are you usually this dumb?

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

2017 or 2018

Too small


Less than 100billion

FarahAideed:


Another senseless comment from you again ..june 2017 indeed ...All you Buhari sadist praying for MTN to fall you are the ones that will fall to your disgrace instead .

Amen!

Ijaya123:

June 2017...
Are you usually this dumb?

i b reason dat question........na wich planet dat guy dy sev

GMBuhari:
Nobody should buy their shares


I read NCC might not renew their operating licence and that by June 2017 their current license will expire


Don't say they didn't tell you o

Do you renew your stupidity everyday? Just be talking trash like the Mumu in your moniker.