MTN Focused on Preparing for Nigerian Unit IPO in Six Months

3 November 2017

Mergers, Acquisitions and Financial Results

MTN agreed to the Lagos IPO as part of the settlement of a $1 billion fine imposed by Nigerian regulators on MTN in 2015.

MTN Group Ltd. is focused on laying the groundwork for an initial public offering of its Nigerian business and should complete the process in the next six months, Chief Executive Officer Rob Shuter said.

“We have a lot of advisers running around getting everything ready,” he said in an interview with Bloomberg TV on Wednesday. “It’s a complicated process and there’s a lot of regulation that needs to be arranged. We are moving forward well with the project and anticipate concluding that in the next six months or so.”

Read the full article on Bloomberg Live here.