MTN Group Ltd (MTNJ.J) Key Developments | Reuters.com
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MTN Group Ltd (MTNJ.J)

MTNJ.J on Johannesburg Stock Exchange

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1 Jul 2016
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Latest Key Developments (Source: Significant Developments)

MTN says Nigeria unit wins 2.6 GHz auction
Wednesday, 29 Jun 2016 09:58am EDT 

MTN Group Ltd : MTN nigeria wins 2.6 GHz auction, commits to continued investments in Nigeria's broadband infrastructure . Nigerian communications commission declared MTN as winner of latest auction for a ten-year frequency spectrum licence for 2.6GHz band Further company coverage: [MTNJ.J] (((Bengaluru Newsroom +91 806 749 1136);)).  Full Article

MTN Group appoints of new group CEO
Monday, 20 Jun 2016 02:30am EDT 

Mtn Group Ltd : JSE: MTN - appointment of new MTN Group President & Chief Executive Officer and other appointments . Completed review of its governance and management structures in accordance with its undertaking to do so . Resolved to appoint rob shuter as new group president and ceo . Rob may commence as soon as it is practically possible in 2017 but not later than 1 July 2017 . Shuter is current CEO of european cluster at Vodafone Group . Appointment of a new VP M&A and Strategy effective 1 October 2016 . Godfrey Motsa appointed by countries in sea region (excluding South Africa) to oversee operations with effect from 1 July 2016 . Nhleko will revert to his role as non executive chairman as soon as Shuter assumes new position as soon as practicably possible . Nhleko will continue to provide necessary leadership as non executive chairman for next two and a half years when he plans to step down .Appointment of additional non executive directors: Paul Hanratty, Stan Miller, Nkululeko Sowazi.  Full Article

MTN says agreed to pay 330 bln naira to Nigeria to settle fine
Friday, 10 Jun 2016 06:30am EDT 

Mtn Group Ltd : jse: mtn - update to shareholders on nigerian fine and withdrawal of cautionary announcement . MTN nigeria has agreed to pay a total cash amount of naira 330 billion over three years . Naira 50 billion paid in good faith and without prejudice by MTN Nigeria on 24 Feb. forms part of monetary component of settlement .MTN Nigeria undertakes to take immediate steps to ensure listing of its shares on nigerian stock exchange.  Full Article

MTN Group says EBITDA margin remains under pressure
Wednesday, 25 May 2016 02:58am EDT 

MTN Group Ltd : As at 30 April 2016, group increased its subscriber base by approximately 1% to 230.3 million year-on-year (yoy) . Organic revenue increased marginally by 1%, impacted by lower revenue growth in mtn nigeria, mtn uganda and mtn cameroon. . Group's earnings before interest, tax, depreciation and amortisation (EBITDA) margin remains under pressure . Q1 reported group revenue increased by 15% yoy supported by a 21% decline in average rand exchange rate . Expect group's performance to be impacted by weak macro environment in key markets as well as by tough competition. .Following partial removal of sanctions in iran, we expect to see an opportunity to expand services and more appetite for growth in this market.  Full Article

MTN Group Ltd - Nigeria to enforce Dec. 31 deadline for $3.9 bln MTN penalty - Bloomberg - Reuters
Tuesday, 22 Dec 2015 07:05pm EST 

MTN Group Ltd:Nigeria will enforce a Dec. 31 deadline for MTN Group Ltd. to pay a $3.9 billion fine even after Africa’s biggest wireless operator said it would challenge the penalty in a Lagos court, according to a spokesman for the communications ministry - Bloomberg.“MTN has the right to seek the court’s interpretation if it feels unsatisfied with the action of the regulator but nothing would stop the government action on the fine,” Victor Oluwadamilare, the spokesman for Communications Minister Adebayo Shittu - Bloomberg.Nigeria won’t consider an extension to the deadline, he said - Bloomberg.The Nigerian communications regulator imposed the penalty on MTN for failing to meet a deadline to disconnect 5.1 million unregistered subscribers as security agencies seek to fight crime in a country with poor identity records. - Bloomberg.The initial fine of $5.2 billion was reduced by 25 percent earlier this month following talks with the regulator led by MTN Chairman Phuthuma Nhleko. MTN has said it continues to engage with the Nigerian authorities even as it seeks a resolution in court - Bloomberg.Oluwadamilare declined to comment on what will happen if MTN misses the deadline, although Lagos-based newspaper Vanguard cited Communications Minister Shittu as saying another fine could be imposed - Bloomberg.  Full Article

MTN Group Ltd - Ugandan court orders MTN to pay $622,000 over contractual dispute - Reuters
Thursday, 19 Nov 2015 05:11am EST 

MTN Group Ltd:A court in Uganda has ordered South African telecoms giant MTN Group MTNJ.J to pay $622,000 to a smaller industry rival that accused it of using a dominant position to stifle its business - RTRS.With about 11.7 million subscribers, MTN Uganda is the east African country's leading telecoms company, in an industry of some seven players - RTRS.MTN terminated a data transmission contract with Ezeemoney, a mobile money firm, in 2013, saying it was a direct competitor - RTRS."The court found that MTN's conduct was unlawful and caused loss by unlawful means and awarded Ezeemoney general and punitive damages," said David Mpanga, a lawyer for Ezeemoney - RTRS.MTN acknowledged losing the case against Ezeemoney in a verdict delivered by Uganda's High Court on Nov. 6, but said it was appealing the verdict - RTRS.  Full Article

MTN Group Ltd - Nigeria stands by $5.2 bln fine for MTN - Reuters
Monday, 16 Nov 2015 04:52am EST 

MTN Group Ltd:Nigeria is standing by a $5.2 billion fine imposed on MTN Group for failing to disconnect unregistered SIM cards though Monday's payment deadline may lapse while a company appeal is considered, Nigeria's telecoms regulator said - RTRS.The Nigerian Communications Commission (NCC) had given Africa's biggest mobile phone group until midnight (2300 GMT) on Monday to pay the penalty that has hammered MTN's MTNJ.J stock price and prompted the resignation of its chief executive - RTRS.NCC's spokesman Tony Ojobo said in a statement on Monday that the regulator was looking into MTN's plea for leniency but the fine remained because MTN has admitted to breaking the law - RTRS."The fine remains but the appeal and other engagements with MTN may affect the payment deadline," Ojobo said - RTRS.Nigeria has been pushing operators to verify the identity of their subscribers, concerned that unregistered SIM cards were being used for criminal activity in a country also fighting an insurgency by Islamist militant group Boko Haram - RTRS.MTN, which has asked former chief executive Phuthuma Nhleko to take charge for up to six months, has been in talks with high-ranking officials from the NCC and the Nigerian presidency for the past two weeks in a bid to reduce the fine. - RTRS.  Full Article

MTN Group Ltd declares interim dividend
Wednesday, 5 Aug 2015 03:46am EDT 

MTN Group Ltd:Declared an interim dividend of 480 cents per ordinary share.Dividend payable on Aug. 31, to ordinary shareholders and recorded in books of company at close of business on Aug. 28.  Full Article

CEO of MTN Group Ltd's S.Africa business resigns as strike drags on - Reuters
Sunday, 5 Jul 2015 08:00pm EDT 

MTN Group Ltd:Says chief executive of MTN's South African unit has resigned, as a strike by 2,000 workers approaches its second month - Reuters.Says Ahmad Farroukh, who took up the post last year, will leave the company by the end of the month, MTN Group CEO Sifiso Dabengwa said in a statement circulated to the company's staff.Says the strike is now in its seventh week and it is problematic for both sides.  Full Article

Vodafone Group Plc and MTN Group Ltd agree to interconnect mobile money services
Tuesday, 21 Apr 2015 02:03am EDT 

Vodafone Group Plc and MTN Group Ltd:Says that Customers of M-Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other following an agreement between Vodafone Group and MTN Group to interconnect their mobile money services.Under the terms of their Memorandum of Understanding, MTN Group and Vodafone Group will also share best practice and work together to define the rules and standards of mobile-based remittances in Africa.  Full Article

BRIEF-MTN says Nigeria unit wins 2.6 GHz auction

* MTN nigeria wins 2.6 GHz auction, commits to continued investments in Nigeria's broadband infrastructure