Nigeria fine to push South Africa’s MTN to 2016 loss, shares fall
JOHANNESBURG (Capital Markets in Africa) – South Africa-based MTN Group expects to report a full-year loss due to a $1 billion regulatory fine in Nigeria and underperformance there and at home, it said on Wednesday, sending its shares to a two-month low. Africa’s most populous nation and biggest economy Nigeria is MTN’s most lucrative but increasingly problematic market, hobbling its growth outlook. But the appointment of banker Rob Shuter, who starts next month, as chief…
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