MTN GROUP LTD

19 Aug

South Africa’s MTN Has First Loss in Eight Years on Naira Slump

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MTN Group Ltd., Africa’s biggest wireless carrier by revenue, posted its first loss since 2016 after the devaluation of the Nigerian naira crimped income from one of its key markets.The group reported a loss of 7.39 billion rand ($414.7 million) in the six months through June, compared with 4.14 billion rand profit a year earlier. The loss is MTN’s first since it had to pay a more than $1 billion fine imposed on the company by the Nigerian government. Source link lol

13 Aug

MTN, IHS Reopen Talks to Resolve Stand-Off on Governance Issues

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MTN Group Ltd., Africa’s largest wireless carrier by footprint, agreed to reopen talks with top continental tower operator IHS Holdings Ltd. in a bid to resolve governance issues that have placed a wedge between the companies for more than a year. MTN, which is IHS’s biggest shareholder, has sought voting rights in line with the 26% economic interest it owns in the tower company and wants more power to nominate board members, which IHS has pushed back on. Following a breakthrough in commercial talks that saw MTN and IHS renew tower leases of 26,000 sites across six African markets, negotiations…