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BRIEF-South Africa's MTN updates on fine imposed on Nigerian unit
December 17, 2015 / 2:30 PM / 2 years ago

BRIEF-South Africa's MTN updates on fine imposed on Nigerian unit

Dec 17 (Reuters) - MTN Group Ltd

* Further update on the fine imposed on MTN Nigeria and renewal of cautionary announcement

* MTN Nigeria acting on legal advice has resolved that manner of imposition of fine

* Quantum thereof is not in accordance with NCC’s powers under Nigerian Communications Act, therefore there are valid grounds upon which to challenge fine

* Advised that all factors having a bearing on matter have been thoroughly and carefully considered

* Has followed due process and has instructed its lawyers to proceed with an action in federal high court in Lagos seeking appropriate reliefs.

* Will continue to engage with Nigerian authorities to try and ensure an amicable resolution in best interests of company Source text for Eikon: Further company coverage:

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