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MTN Group Ltd (MTNJ.J)

MTNJ.J on Johannesburg Stock Exchange

20 Feb 2017
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Latest Key Developments (Source: Significant Developments)

MTN Group sees FY basic headline loss per share of 285-255 cents
Thursday, 4 Aug 2016 01:51am EDT 

MTN Group Ltd : Update on trading statement for the six months ended June 30 2016 . MTN expects to report for HY 2016 a basic headline loss per share of between 285 cents and 255 cents . In total net effect of Nigerian regulatory fine on current period was a negative impact of 474 cents per share for first half . Underlying operational results for HY 2016 were further affected by under-performance of MTN Nigeria . Says HY earnings were further negatively impacted by foreign exchange losses of 135 cps .Relatively weaker operational performance of MTN South Africa, which is expected to report a decline in EBITDA margin, impacted by marked increase in handsets sold during HY 2016.  Full Article

MTN Group says MTN Nigeria to list during 2017
Thursday, 28 Jul 2016 02:30am EDT 

MTN Group Ltd : MTN Nigeria takes steps towards listing and appoints transaction advisors .At present, MTN Nigeria is targeting that listing takes place during 2017.  Full Article

MTN sees negative H1 HEPS due to Nigeria fine
Tuesday, 19 Jul 2016 03:32am EDT 

Mtn Group Ltd : JSE: MTN - trading statement for the six months ended 30 June 2016 . Expects to report negative basic headline earnings per share (HEPS) and basic earnings per share (EPS) for HY2016 . Expected decline in heps primarily as a result of regulatory fine imposed on MTN Nigeria following a resolution with federal government of Nigeria on 10 june 2016 . HY2016 results are further expected to be negatively impacted by under-performance of MTN Nigeria and MTN South africa . Nigerian regulatory fine is expected to have an estimated negative impact of 474 cents on HEPS and EPS, respectively. .MTN South Africa expected to report a decline in EBITDA margin, impacted by marked increase in handsets sold during HY2016.  Full Article

MTN Group says CFO Brett Goschen to leave co; effective Sept. 30
Monday, 4 Jul 2016 01:05am EDT 

MTN Group Ltd : Brett Goschen, group CFO, will be leaving MTN effective 30 September 2016 to pursue other interests . Gunter Engling will assume position of acting group CFO on Brett's departure until a permanent CFO is appointed . Appointment of Stephen Van Coller as vice president of strategy and mergers & acquisitions effective 1 October 2016 . We expect to announce a deputy head of mergers & acquisitions shortly .Gunter Engling is currently CEO of MTN Rwanda.  Full Article

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

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BRIEF-MTN Group to swap 51 pct interest in Nigeria Tower for additional IHS stake

* Will exchange its 51 pct interest in Nigeria Tower Interco BV, for an additional shareholding in IHS Holding Limited