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MTN GROUP LIMITED - Notice of Regulatory Hearing in Benin

Release Date: 09/11/2017 17:30
Code(s): MTN     PDF:  
Wrap Text
Notice of Regulatory Hearing in Benin

MTN Group Limited
(Incorporated in the Republic of South Africa)
Registration Number 1994/009584/06
Share code: MTN
ISIN: ZAE000042164
("MTN Group" or the “Company”)


NOTICE OF REGULATORY HEARING IN BENIN

MTN Benin has received notification from the telecoms regulator (ARCEP) on the 8th November 2017
that a process was being initiated to review the reasons why MTN Benin has not paid outstanding
invoices on frequency fees for 2016 and 2017.

On 30 March 2017, the Government of Benin issued MTN Benin frequency fees invoices for an amount
equivalent to approximately USD 213 million for the period March 2016 to December 2017.

Whilst the license agreement prescribes the calculation methodology for frequency fees it also
provides that fees should take into account regional benchmarks, international practises and the local
economy.

MTN Benin has contested this amount on the basis that, inter alia, the amount is excessive which has
been confirmed by an independent benchmark report commissioned in terms of MTN Benin’s license.

We will continue to engage with the regulatory authorities in Benin to find an amicable solution to
this matter.


Fairland
9 November 2017

Sponsor
Deutsche Securities (SA) Proprietary Limited

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