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Wireless

MTN close to fine resolution amid CEO exit - report

Thursday 14 April 2016 | 10:38 CET | News
MTN Group is close to striking a deal with Nigerian authorities over a NGN 780 billion fine imposed in 2015, Bloomberg reported, adding that the group's interim CEO Phuthuma Nhleko is reportedly preparing to step down. Nhleko, who took on the executive chairman's role on a temporary basis after the resignation of then-CEO Sifiso Dabengwa in November 2015, is making plans to leave his post in May, sources close to the matter said. The source said Nhleko would not return to a non-executive role before he came to an agreement with the Nigerian attorney-general.

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Categories: Mobile & Wireless
Companies: MTN
Countries: Africa / Nigeria
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