To fulfil their side of their deal MTN struck a deal with the West African nation to settle a record fine. The MTN Group is to raise 500 million dollars, to settle the fine.
Image source: https://www.timeslive.co.za
The largest mobile phone company has been advised by Citigroup and Standard Bank to dispose of 30% of the Lagos based Unit into Nigerian Stock Exchange.
A final decision has not been made yet as discussions are still ongoing. The agreement was to pay a 1 billion fine after MTN missed the deadline to disconnect unregistered subscribers. The original penalty set was 5.2 billion.
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