Saturday, 20 February 2016

MTN Expects To Pay "Reasonable" Fine To NCC

South African telecoms firm MTN could end up paying a "reasonable" amount following talks with the Nigerian authorities over a disputed $3.9 billion fine for failing to disconnect unregistered SIM card users, two sources familiar with the matter said on Friday.

A judge in Lagos last month gave both parties until March 18 to reach a settlement, after MTN in December had asked the court to arbitrate over the dispute, saying the Nigerian Communications Commission had no legal grounds to order the fine.

MTN was initially handed a $5.2 billion penalty in October, prompting weeks of lobbying that led to a 25 percent reduction by the NCC.