MTN Resolves Nigerian Phone Dispute With $1.7 Billion Deal

  • Fine is a third of original penalty over unregistered phones
  • Stock surges 13%; unit to list shares on Nigerian exchange

MTN Group Ltd. agreed to pay a 330 billion naira ($1.7 billion) fine in cash to the Nigerian government, a third of the original penalty, removing a major uncertainty hanging over the phone carrier’s operations in its largest market.

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