MTN Still in Regulator Talks About $5.2 Billion Nigeria Fine
- Stock resumes trading in Johannesburg after 3-hour stoppage
- Phone company has lost abouth fifth of its value since penalty
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MTN Group Ltd., Africa’s largest wireless operator, said it remains in negotiations with Nigerian regulators over a $5.2 billion fine for failing to comply with an order to disconnect customers with unregistered phone cards.
MTN has until Nov. 16 to pay the fine, which relates to the timing of the disconnection of 5.1 million subscribers and is based on a charge of 200,000 naira ($1,013) for each unregistered customer.