MTN share price up as Nigerian tax headache goes away

Business

MTN share price up as Nigerian tax headache goes away

Withdrawal of R28.54bn bill is but the latest in a series of problems in the country for company

Mudiwa Gavaza

Shares in Africa’s largest mobile operator, MTN, rose as much as 5% in late-afternoon trade on Friday as the company announced that Nigerian authorities had withdrawn a $2bn (R28.54bn) tax demand.

The company said the attorney-general of Nigeria withdrew the tax against MTN Nigeria and referred the matter to tax authorities.

“We appreciate this decision of the attorney-general, which paves the way to an orderly and amicable resolution of this matter. MTN remains fully committed to meeting our fiscal responsibilities and contributing to the social and economic development of Nigeria and all regions in which we operate,” MTN group chief executive Rob Shuter said...

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