Nigeria: MTN Group Issues Profit Warning Over Nigeria Fine, Devaluation

20 July 2016

MTN Group Limited fell in Johannesburg trading as the Africa's largest mobile-phone company said it expects to report a first-half loss after agreeing to pay a record fine in Nigeria.

The shares dropped 2.5 per cent to 138.13 rand by 11:25a.m., after earlier slumping as much as 3.8 per cent, the most in three weeks on a closing basis.

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