MTN shares fall 10% as Nigeria suspends sale of SIM cards
While the suspension itself is not a concern, the potential fallout from a Nigerian government mobile user audit may cause problems
Shares in MTN fell 10% on Friday as Nigeria’s telecoms regulator — which is conducting an audit of mobile users — ordered network operators to suspend the sale and activation of new SIM cards, a move that has investors worried about the company’s prospects in its biggest market.
Shares in MTN closed trading on Friday 10.3% down at R60.63, its lowest level since early November…
