JOHANNESBURG (Reuters) – South Africa’s MTN Group may list its Nigerian unit on the stock exchange in Lagos once it has resolved a disputed $3.9 billion fine with authorities in the Western African nation, its executive chairman said on Thursday.
MTN also said it has set aside 9.3 billion rand ($600 million) to cover a potential settlement of a fine imposed by Nigerian authorities last year for failing to cut of unregistered SIM card users.
Shares in the mobile company rose more than 9 percent to 149 rand by 0845 GMT.
($1 = 15.645 rand)
(Reporting by Tiisetso Motsoeneng; Writing by Joe Brock; Editing by James Macharia)