MTN profitable again
MTN Group has said it returned to profit in 2017, having recovered from its $1 billion Nigerian fine
MTN Group says it has now fully recovered from the $1 billion fine it was issued in Nigeria in October 2015.
The operator said in a statement that it anticipates reporting a profit for the 12 months ending 31 December 2017, compared to a headline loss of 77 cents per share and an attributable loss of 144c per share one year ago.
The final fine amount was brought down from $5.2 billion to $1 billion after intense negotiations that lasted several months, and following some high-profile resignations, including that of the CEO.
Pictured: Ralph Mupita, MTN CFO