NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
MTN share price crashes

By Robert Laing on 29/12/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 895


MTN’s share price fell 2% to R133 on Thursday morning after it warned that a R6bn profit from a deal with cellphone tower operator IHS would be cut by R2.8bn.

MTN said the R6bn profit it had booked in its interim results from the deal had been reduced to R3.2bn by a R2.8bn loan agreement in the second half of its financial year.

In February, MTN exchanged cellphone towers it owned in Nigeria in a partnership with IHS, called Interco, for a 29% stake in an enlarged IHS. This deal included a $231m (about R2.8bn) shareholder loan which MTN said had now been assigned to IHS.

“The combination of the profit from the exchange of Interco shares for IHS shares in the first half of the 2017 financial year and the loss on assignment of the shareholder loan in the second half of the year has a combined positive impact of R3.2bn to earnings in 2017,” Thursday’s statement said.

MTN’s financial year ends in December and it releases its results in early March.

As part of the deal, IHS “has facilitated certain network volume commitments and provided more attractive terms for MTN Nigeria’s future network roll-out applicable from 2018 onwards,” the statement said.

“The agreement allows MTN Nigeria to continue to invest in its network more efficiently, and further simplifies MTN’s interests in IHS.

“The agreement will enable MTN and IHS to mutually benefit from continued investment and commitment to the roll-out of broadband and data services in Nigeria,” MTN said. (Business Day SA)

 

Source News Express

Posted 29/12/2017 12:37:21 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Mike Awoyinfa breaks silence on Dimgba Igwe’s death,...

Buhari for medical attention in UK: Presidency

Dogara mourns Deputy House Leader, Umar Baba Jibril...

BREAKING NEWS: NFF Confirms Paul Le Guen As...

Demolition Notice threatens 60,000 houses, mosques, churches and...

10,000 disengaged soldiers reinstated as war against terror...

Recession: Buhari commits to developing Nigeria’s manufacturing sector...

Emmanuel inaugurates construction of 81km roads in Akwa...

Ambode spits fire, says no more hiding place...

Agitation: Change your strategy, Igbos told

Chasing shadows

Dogara to Buhari: Keep partisanship aside, let’s salvage...

 

Latest News Rethinking Nigeria’s development with Bill Gates, Okonjo-Iweala, By Adele Adeniji Still on Buhari’s verdict on Nigerian youths, By Jerome-Mario Utomi Armed bandits abduct housewives in Kaduna Cybercrime: UK sends 2 Nigerians to prison Brave worshippers capture suicide bomber inside mosque 41 items still banned under Nigeria-China currency swap deal – CBN Pope Francis unveils 14 new cardinals, no Nigerian on the list Anambra to revive over 200 skill acquisition and entrepreneurial centres New HIV infections among pregnant women raise concerns Why Okorocha wants Nwosu to be Imo Governor in 2019, By Collins Ughalaa Certificate Scandal: HEDA asks SFU to investigate Senator Omisore dumps PDP for SDP ahead of 2019

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (344,943 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (341,564 views) Shameless Genevieve Nnaji exposes breasts in public (273,082 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,504 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (204,981 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,477 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,695 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,002 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,035 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,167 views) Lagos plane crash: Journalist releases victims’ names (139,833 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,242 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (40) Business & Economy (3,136) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (594) Global Business Monitor (273) International (1,964) Interview (149) Live Commentary (28) Love Matters (119) News (35,442) Opinion (953) Pidgin (10) Politics (5,021) Religion (742) Sports (1,512) Stock Watch (28) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement