South African telecoms firm MTN has applied with Nigeria's securities regul...
FILE PHOTO: The logo of MTN is pictured in Abuja, Nigeria September 11, 2018. REUTERS/Afolabi Sotunde
Nigeria is the biggest market for Africa’s largest telecoms firm, with 52.3 million users in 2017, and accounts for a third of the company’s annual core profit. However, it has proven problematic in recent years. “What they applied for is registration for listing, that is just to convert to a publicly quoted company where, for now, private shareholders can dispose of their shares at the exchange,” said a Nigerian Securities and Exchange Commission official, speaking on condition of anonymity.
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