The initial fine of $5.2 billion was more than MTN’s total sales in Nigeria in 2014 and equivalent of about 37% of the group’s total revenue.
Shares of Africa’s biggest telecoms firm MTN stopped from trading as fallout from record Nigeria fine continues>
South African multinational has failed to convince Nigerian regulators to lower the $5.2 billion fine, according to reports.
Buhari’s Nigeria: Tough day at office for SA multinationals as MTN hit with record fine; bank directors shut out>
The magnitude of MTN's penalty "is way, way higher than the profits they’re going to make from Nigeria for many years to come".
The mobile-phone company sees the naira deteriorating further.
It’s producing more African shows, and will allow new service Showmax to compete directly with its Multichoice unit.
S. African giant owns 34% of Chinese Internet provider Tencent, has online interests in about 40 countries and is Africa’s biggest seller of pay TV.
Facebook will find that winning customers in Nigeria or Kenya is tougher than in Nebraska or Kansas.