MTN Nigeria Fine Cut 35% to $3.4 Billion as Local CEO Quits

  • Fine payable by the end of December, Nigerian regulator says
  • MTN's chairman will consider penalty, to consult further

The Nigerian telecommunications regulator cut the fine imposed on MTN Group Ltd. to $3.4 billion from a record $5.2 billion and the chief executive officer in the country quit as part of a wider management shake-up at Africa’s biggest mobile-phone operator.

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