Tuesday, 17 October 2017

MTN swings to 1H loss on Nigeria fine

By Nick Wood, Total Telecom
Friday 05 August 16

South Africa-based telco group undertakes 'deep and fundamental' strategic review.

MTN on Friday said it has launched an in-depth strategic review, after swinging to a net loss during the first half of 2016 following the hefty fine incurred in Nigeria. The South Africa-based telco group reported a loss of 5.49 billion rand (€359.21 million) for the six months to 30 June, compared to a year earlier profit of ZAR11.9 billion in the corresponding period a year earlier. &quot…

MTN on Friday said it has launched an in-depth strategic review, after swinging to a net loss during the first half of 2016 following the hefty fine incurred in Nigeria. The South Africa-based telco group reported a loss of 5.49 billion rand (€359.21 million) for the six months to 30 June, compared to a year earlier profit of ZAR11.9 billion in the corresponding period a year earlier. &quot…

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