MTN shares fall 10% as Nigeria suspends sale of SIM cards
While the suspension itself is not a concern, the potential fallout from a Nigerian government mobile user audit may cause problems
11 December 2020 - 08:28
UPDATED 11 December 2020 - 18:34
Shares in MTN fell 10% on Friday as Nigeria’s telecoms regulator — which is conducting an audit of mobile users — ordered network operators to suspend the sale and activation of new SIM cards, a move that has investors worried about the company’s prospects in its biggest market.
Shares in MTN closed trading on Friday 10.3% down at R60.63, its lowest level since early November...
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now