Information revealed possible scrap of MTN IPO
Information from South Africa revealed a possible scrap of MTN Initial Public Offer (IPO) in Nigeria. Broadband SA reported yesterday. In an interview with MTN CFO Ralph Mupita in Johannesburg revealed this.
He said that with the recent face off with Nigerian authorities it may consider an introduction into the Nigerian Capital market. However, the telecom company is yet to come to conclusion.
As a result of the recent challenges with Nigeria Central Bank and the Office of the accountant general of the federation over a total sum of 10.1 billion Dollars, he stock price of MTN had been affected. The CFO thereby stated that the wireless company may not get fair value has a result.
MTN had been fined by the Central Bank of Nigeria over he movement of 8.1 billion Dollars out of the country, also, the accountant general of the federation office has charged the company 2 billion Dollars over back taxes. News report shows that MTN and CBN is in law-war over this while CBN is considering resolving the issue base on new information provided by MTN and other banks. Many persons may have taught that the attack of MTN by Nigerian agencies may be as a result.