₦airaland Forum

Share trading in MTN, Africa’s biggest mobile operator, has restarted after earlier being suspended following a huge fine imposed by Nigerian Communications Commission (NCC).

Trading in MTN Group was halted in Johannesburg after the stock fell 8%.

Dealings later started again after the company said it was in talks with Nigerian Communications Commission authorities about reducing the record $5.2bn (£2.7bn) fine.

The sum amounts to double MTN’s annual profits last year.

The Nigerian Communications Commission imposed the penalty for failing to cut off unregistered mobile users, giving MTN just two weeks to pay.

The company said on Monday it was in talks with the Nigerian presidency, internal security agency and the communications regulator about the fine.

Chief executive Sifiso Dabengwa, who used to run the company’s Nigerian operations, is understood to have flown to Abuja in a bid to negotiate a lower penalty.

Nigeria is MTN’s biggest market, with 28.5 million subscribers, followed by Iran and South Africa.

The company’s shares had fallen by about 25% since the fine was announced on Monday last week, wiping about 60bn rand (£2.7bn) off its market value, with the company now worth about £13bn.

The stock was down 5.5% after trading recommenced.

http://businessdayonline.com/2015/11/mtn-seeks-to-reduce-5-2bn-ncc-fine/ lalasticlala, davide470

Now they know it hurts to pay for services not rendered.

lol... Dem Neva see anything

Mtn shud pay and stop this nonsense of inciting nigerians against the govt.
To be forewarned....
MTN > JONA
MTN < BUBU

When the cry of shortchanged subscribers ascends to God...... What follows?

Ok

:

Osinbanjo nd Co. Pls oo make una no heed to MTN crocodile tears ooo..

These idiots called my line ysterday with 0757, picked the call noticed it was MTN I had to drop the call only to be debited #50 for subscription of their product I don't even know about..

If they called 5 million nigerian yesterday they have made 250million just like that..

I pray on NCC to increase the fine to $10 billion, these guyz can easily pay it without touching their 2nd account..

MTN must chi chon chin this Last quarter..

They must pay o! They have been tactically milking us for 15 years .is that not more than 5.2bn?

Stupid network...where my glo Sim jare...

mtn pack and gooo

Fine

Mtn pay oooo

When em deduct my 20 naira day before yesterday fr the service i ddn't solicit for... Em no knw abi

Serves them right, wait i never congratulate them sef... Dialing 180*

Hehehhehehehhehehehehehheheheheheheheheheheheheheheh

d way MTN will slice their subscribers like a 2 edged sword just to recover from their loss will be so gruesome.

Their own discrepancies sef just too much, I woke up one day to find out my sim wasn't active no more, the next day people started complaining that when they called my number what they hear from the receiving end is a woman's voice saying "hello, ti o ti wa sọrọ". why and how did they allocate my registered and active line to another customer still dey surprise me till date.

Truth is their wouldn't be any reduction.
only thing here is concession (stargered payment)
No reduction except you reduce our tariff by over 80%

mtn mama!
make dem pay jor

Let's see hw it ends

If NCC reduces that fine i will renounce my support for this government.

reduce wetin, make dem pay jor

So mtn still feel pain? I wish they know what we Nigerians face from using thier so called network with thier high tariffs

Nooooooo!!! They better pay up

OBO

Bread is unpriceable

They must pay...

Its either they pay #1.03Tr or leave our milky land

there should be no mercy

What goes around! come around!

They better pay up. Nonsense mtn. But I still dey enjoy una Sha. Simple server things