Light at the end of the fine?

Finweek English Edition - - MARKET PLACE -

Re­ports are cir­cu­lat­ing that MTN will be able to get $1bn of locked-in money out of Iran now that the sanc­tions against the coun­try are be­ing lifted. This has not been con­firmed by the com­pany, but it cer­tainly will help to mit­i­gate the fine it’s fac­ing in Nige­ria. A bland Sens an­nounce­ment from the com­pany stated that it’s still in talks re­gard­ing the fine. While it’s paid $600m as a ges­ture of good­will, this new money from Iran may as­sist in pay­ing the fine with­out too much sweat – as­sum­ing it is around $1.5bn to $2bn rather than the ini­tial or even re­duced fine. This is a glim­mer of good news for the share but even if MTN is able to pay the fine with rel­a­tive ease, it re­mains a large amount of money that could have been bet­ter utilised.

Sim card sell­ers wait for cus­tomers at a roadside kiosk in La­gos, Nige­ria.

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