MTN: 8,591 +151 (+1.79%)
S.Africa's MTN shares fall 4 percent on uncertainty over Nigeria meeting
JOHANNESBURG, Oct 9 (Reuters) - Shares in South Africa's MTN
group weakened more than 4 percent on Tuesday on
uncertainty over the outcome of a meeting between the
telecommunications firm and Nigeria's central bank governor over
the repatriation of $8.1 billion.
At 1127 GMT, shares in MTN were down 2.21 percent to 84.10
"From what we saw last week, Nigerian authorities are pretty
stubborn in terms of what their stance is with is. The reason
why it (meeting) has pushed the share price down is maybe
because we haven't had a positive outcome (before)," GT247
trader Paul Chakaduka said.
(Reporting by Nqobile Dludla
Editing by James Macharia)
First Published: 2018-10-09 13:02:26
Updated 2018-10-09 13:38:27
© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.