Former US attorney-general enters MTN Nigeria fine talks

2016-02-03 13:30 - Loni Prinsloo
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MTN. (Duncan Alfreds, Fin24)

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Johannesburg - MTN Group has hired former US attorney-general Eric Holder to take part in talks with Nigerian regulators about settling a $3.9bn fine, according to the Nigerian Communications Commission (NCC).

Holder held preliminary talks with NCC chief executive officer Umaru Danbatta regarding the record penalty, which was imposed on Africa’s largest wireless company for missing a deadline to disconnect unregistered subscribers, the regulator’s spokesman, Tony Ojobo, said by phone on Wednesday.

The Financial Times earlier reported Holder’s involvement.

“We have consultants working for us across the globe,” MTN spokesperson Chris Maroleng said by phone, declining to comment on Holder.

MTN shares gained 0.4% to R126.14 as of 11:52 in Johannesburg, reducing the decline since the fine was made public on October 26 to 34%. That values the company at R233bn ($14.4 billion).


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