MTN confirms Nigerian unit fined over R70 billion, shares fall
26 October 2015 - 17:00
MTN confirmed on Monday it was fined $5.2 billion (R70.56 billion) by the Nigerian regulator for failing to disconnect subscribers with unregistered and incomplete SIM cards at its firm in Africa's biggest economy. Shares in MTN extended their losses to more than 10 percent and traded down 9.3 percent lower at 173 rand by 1236 GMT (1436 SA time).
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