{"id":290242,"date":"2018-12-10T14:16:26","date_gmt":"2018-12-10T12:16:26","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=290242"},"modified":"2018-12-10T17:06:22","modified_gmt":"2018-12-10T15:06:22","slug":"mtn-shares-slide-as-it-remains-in-talks-with-nigeria-over-10-billion-dispute","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/290242\/mtn-shares-slide-as-it-remains-in-talks-with-nigeria-over-10-billion-dispute\/","title":{"rendered":"MTN shares slide as it remains in talks with Nigeria over $10 billion dispute"},"content":{"rendered":"

MTN Group has advised that it remains in discussions with Nigerian authorities over a $10 billion dispute.<\/p>\n

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“Shareholders are advised that MTN Nigeria Communications Limited continues to engage with the Nigerian authorities in order to reach a mutually acceptable resolution on both the Central Bank of Nigeria and Attorney General matters,” the group said in a statement on SENS on Monday (10 December 2018).<\/p>\n<\/div>\n<\/div>\n

Reuters reported that on Tuesday, a court in Lagos adjourned the case between MTN and representatives of Nigeria\u2019s central bank to December 12, after lawyers requested a short adjournment for them to report back to the court on the settlement talks.<\/p>\n

Shares in MTN declined 3.24% to R83.59 on the JSE on Monday, down from a year high of R140.<\/p>\n

Nigeria’s central bank accused MTN in late August of illegally repatriating $8.1 billion from the country. MTN has denied any wrongdoing.<\/p>\n

That was followed by a secondary allegation that the operator owed $2 billion in back taxes, a claim which MTN has said is without merit.<\/p>\n

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Read: PIC increases stake in MTN<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

MTN Group has advised that it remains in discussions with Nigerian authorities over a$10.0 billion dispute.<\/p>\n","protected":false},"author":10,"featured_media":9254,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[26,28],"class_list":["post-290242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-mtn"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/290242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=290242"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/290242\/revisions"}],"predecessor-version":[{"id":290252,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/290242\/revisions\/290252"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/9254"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=290242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=290242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=290242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}