MTN denies plan to list on Nigerian Stock Exchange

MTN Group, South African telecoms giant, has debunked rumours that will list its Nigeria unit on the Nigerian Stock Exchange.

The telecom company said it is a mere rumour.

This is coming against the backdrop of expectations that MTN Nigeria would get listed on the NSE once it resolves the disputed N780 billion fine with the Nigerian Communications Commission (NCC).

Chris Maroleng, Corporate Affairs Executive of the company in a statement described the reports as untrue, and reaffirmed that the company has no plans to list its Nigerian unit on NSE.

Maroleng further stated that the listing of MTN Nigeria remains a consideration and not a planned listing, as suggested in some of the media reports.

Reports had suggested that the only thing stopping the group from listing in Nigeria was the 780 billion Naira penalty imposed on it for failing to comply with directives from the NCC to disconnect 5.1 million unregistered SIM cards, and was planning to list as soon as the matter was resolved.