MTN, Nigeria's leading telco, has dropped a hint that it would soon offload 30 per cent of its shares to Nigerian investors, after 16 years of making handsome profit in the economy. Though proceeds from the listing will be spent on paying fines slammed on the firm by the federal government, investors, who said the planned action was overdue, await the dawn of a new era on the Nigerian Stock Exchange. Bamidele Famoofo reports
Pressured by the need to pay off its debt to the federal government, which came as a result of operational default in 2016, MTN, the largest telecommunications company in Nigeria, may soon sell 30 per cent of its shares to individual and institutional investors in Africa's most populous nation in the first half of 2018.
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