News
South African telco does not confirm reports that it has offered US$1.5 billion to settle Nigeria SIM card matter.
MTN on Friday urged shareholders to exercise caution with regard to media reports about the state of play in Nigeria, where it is in dispute with the government over a hefty fine linked to SIM card disconnections.
In a stock exchange announcement, the South Africa-based telco group said it is aware of various press reports regarding the fine and reiterated a previous call to shareholders to refrain from making decisions based on reports in the media.
The announcement came after Reuters claimed MTN has offered to pay US$1.5 billion to settle the fine dispute, a significantly lower amount than the $3.9 billion levied by the government.
The newswire said it gleaned the information from a letter to the Nigerian government from MTN’s lawyer.
MTN was initially fined $5.2 billion in October for failing to disconnect millions of unregistered SIM cards in accordance with the regulator’s timeline, but the amount payable was subsequently lowered.
The telco referred to a statement issued earlier this month in which it announced that it is engaging with the relevant Nigerian authorities "in an attempt to ensure an amicable resolution to this matter."
A court hearing in the case will open on 18 March, unless the parties are able to reach a settlement before that date.
