MTN: 8,591 +151 (+1.79%)
MTN says $10.1 bln Nigeria demand makes local listing challenging - CFO
LAGOS, Sept 12 (Reuters) - A $10.1 billion demand by
Nigerian authorities from South African telecoms group MTN
makes its planned debut stock market listing in the
country "pretty challenging and awkward", the group's chief
financial officer said on Wednesday.
Nigeria's central bank has asked MTN to repatriate $8.1
billion in monies sent abroad, claiming the funds were sent
without proper certification. The company is also facing a $2
billion tax demand.
Preparation of the company's the initial public offering
(IPO) prospectus is far advanced, Ralph Mupita told CNBC Africa
(Reporting by Alexis Akwagyiram and Didi Akinyelure
Writing by Chijioke Ohuocha; Editing by Jan Harvey)
First Published: 2018-09-12 19:04:43
Updated 2018-09-12 19:30:58
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