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Wireless

MTN seeks to have Nigerian fine cut by 60-80% - report

Friday 6 November 2015 | 08:58 CET | News
MTN Group is trying to get the USD 5.2 billion fine imposed by the Nigerian Communications Commission (NCC) reduced by as much as 80 percent and might borrow money from banks to help settle the penalty, Bloomberg reported. It said that the head of research at Renaissance Capital (RenCap) in Nigeria, Adesoji Solanke, shared a note with clients, where he said MTN is seeking to have the fine cut by 60 percent to 80 percent. According to Bloomberg, a second lender said MTN is considering borrowing from banks, as it recently checked what their lending capacity to it is.

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