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Fri,24Nov2017

MTN

Telecoms: MTN South Africa to sell $729m stake to black investors

Photo©Siphiwe Sibeko/ReutersSouth African mobile phone company MTN Group will sell shares worth 9.9 billion rand ($729 million), a 4 percent stake, to black investors to meet government quotas on black ownership.

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Nigeria fine pushes MTN to first interim loss, dividend cut

Photo©Siphiwe Sibeko/ReutersAfrica's biggest mobile phone operator MTN Group Ltd cut investor payouts by almost 50 percent as it reported its first-ever half-yearly loss after taking a hit from a hefty regulatory fine in Nigeria.

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Tax avoidance: how it works and how to stop it

Illustration © Christophe ChauvinThe Panama Papers have put the spotlight on tax avoidance once again. This is, of course, not a new issue. Before that, we had Swiss Leaks and BVI Leaks. You may be asking: how does tax avoidance work and why have policymakers struggled to rein it in?

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Telecoms: South Africa's MTN CFO Goschen resigns, names head of M&A

Photo©ReutersThe chief financial officer of MTN Group is to step down in September after more than a decade at Africa's biggest telecoms operator, the company said on Monday.

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Telecoms: How MTN sliced billions off its Nigerian telecoms fine

A worker walks past an outlet of South Africa's MTN Group in Johannesburg, South Africa, February 23, 2016. Reuters/Siphiwe SibekoTelecoms firm MTN hired former U.S. Attorney General Eric Holder in January to help it reduce a $3.9 billion fine imposed in Nigeria over unregistered SIM cards. Five months later, it struck a deal to pay less than half of that.

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Telecoms: MTN Nigeria to roll out LTE services after 2.6GHz spectrum auction win

Photo©ReutersAfrica's biggest mobile telecoms operator MTN's Nigerian subsidiary has won a 10-year radio spectrum licence for mobile broadband services, it said on Wednesday.

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Telecoms: MTN Uganda says syndicated loan to fund 4G network expansion

Photo/Reuters/Rogan WardThe Ugandan unit of South African telecoms giant MTN Group plans to spend much of the $114 million loan it secured last month on expanding its 4G mobile broadband network, a top company executive said on Wednesday.

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Telecoms: MTN to more than double spending in Nigeria

Photo©ReutersMTN Group will more than double capital spending in Nigeria in the 2016 fiscal year, it said, days after agreeing to pay a heavily reduced penalty to settle a regulatory dispute with the west African country.

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Telecoms: MTN to list in Nigeria as part of $1.7 bn fine deal

File photo©Sunday Alamba/AP/SIPAFile photo©Sunday Alamba/AP/SIPASouth African telecoms group MTN will take immediate steps to list shares in Nigeria as part of a deal to settle a dispute over unregistered SIM cards and will also issue an apology, according to a copy of the agreement.

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MTN agrees to pay $1.6bn Nigeria fine

An MTN advertisement is seen on a giant electronic board over a slum in Lagos, Nigeria. Photo©Sunday Alamba/AP/SIPAAfter months of legal wrangling, MTN, Africa's largest mobile network operator, has agreed to pay a $1.67 billion-dollar fine to the Nigerian government and has informed shareholders that the matter has been resolved with the West African country's communication authorities.

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Telecoms: Orange to invest in Nigerian e-commerce group Africa Internet

Stéphane Richard, French telecom operator Orange Chairman and CEO. Photo©ReutersFrench telecommunications company Orange is to invest 75 million euro ($85 million) in Nigerian e-commerce group Africa Internet Group (AIG) and become a shareholder, the two companies said on Tuesday.

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Telecoms: MTN South Sudan lays off staff as economic crisis bites

MTN South Sudan, one of the country's biggest telecoms operators, is cutting dozens of jobs and cancelling expansion projects such as the construction of new cellular sites due to an economic crisis, it said on Tuesday.

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Top 500 companies: How to thrive in 2016

The retail and utility sectors were the best performers in The Africa Report's Top 500 companies this year – based on 2014 company results – while oil and mining showed weaknesses that will continue to influence their results in 2015 and 2016.

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Nigerian parliament probes whether telecoms company MTN fine can be reduced

Photo©ReutersNigeria's parliament has launched a probe into whether the telecoms regulator can reduce a fine slapped on South Africa's MTN for missing a deadline to disconnect unregistered SIM card users, a lawmaker said on Thursday.

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Telecoms: Data sales boost MTN Uganda 2016 revenue

Photo©ReutersMTN Uganda, the country's largest telecoms firm, sees strong data sales helping 2016 revenue rise 7 to 10 percent and expects to seek a syndicated loan soon, its chief executive said on Tuesday.

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Congo orders telecoms shutdown during presidential vote

Photo©ReutersCongo Republic's government has ordered the country's two largest telecommunications providers to block all communications during a presidential election on Sunday and again on Monday, a government source said on Saturday.

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South Africa's MTN offers $1.5bn to settle Nigeria fine

File Photo©ReutersSouth African telecoms firm MTN Group has offered $1.5 billion to settle a much larger fine from Nigerian regulators for missing a deadline to disconnect unregistered SIM card users.

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Trade: South Africa's Zuma heads to Nigeria to meet with Buhari

Jacob Zuma is set to visit Nigeria on Tuesday. File photo©ReutersAfter years of strained political and economic relations between South Africa and Nigeria, President Jacob Zuma visits the West African country this week, a development that many see as the ushering of a new era in relations between the two countries.

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MTN's shares make biggest gain on hopes of deal over Nigeria fine

Photo©ReutersSouth Africa-based MTN's share price made its biggest daily gain in more than seven years on Thursday after the regional mobile phone giant said it had set aside $600 million to settle its dispute with Nigeria over a $3.9 billion fine.

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South Africa's MTN may list in Nigeria once fine resolved

Brokers work on the trading floor of the Nigerian stock exchange in the commercial capital Lagos. Photo©ReutersSouth Africa's MTN Group may list its Nigerian unit on the stock exchange in Lagos once it has resolved a disputed $3.9 billion fine with authorities in the Western African nation, its executive chairman said on Thursday.

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