Abuja - South Africa’s MTN Group has set aside around $600 million to cover the potential settlement of a fine in Nigeria, the firm said on Thursday, as it posted a more than 50 percent drop in annual profit.
MTN is in talks with Nigerian authorities to reduce a $3.9 billion fine imposed last year for failing to cut off unregistered SIM card users, Reuters reported.
Also read: MTN Nigeria withdraws suit against NCC
It said headline earnings per share (EPS) came in at 746 cents in the year to end-December compared with 1 536 cents a year earlier.
Headline EPS is the main profit measure in South Africa that strips out certain one-off items.
- News 24