MTN Group may reportedly be investigated by the Johannesburg Stock Exchange (JSE) because it didn’t properly tell the market that it was facing a $5.2 billion fine in Nigeria.
News of the fine has pummeled MTN’s shares, which fell for a second day on Tuesday, easing 4.2 percent to R159.98. That extended their losses to nearly 16 percent over the two days, wiping about R50 billion from MTN’s market value.
Stephen Grootes spoke to Tech Central's Duncan MacLeod about the prospect of MTN Group's operations in Nigeria.
This article first appeared on 702 : Could MTN Group lose its Nigeria licence?