MTN:  8,362   -27 (-0.32%)  11/12/2018 00:00

S.Africa's MTN shares fall 4 percent on uncertainty over Nigeria meeting

JOHANNESBURG, Oct 9 (Reuters) - Shares in South Africa's MTN group weakened more than 4 percent on Tuesday on uncertainty over the outcome of a meeting between the telecommunications firm and Nigeria's central bank governor over the repatriation of $8.1 billion.

At 1127 GMT, shares in MTN were down 2.21 percent to 84.10 rand.

"From what we saw last week, Nigerian authorities are pretty stubborn in terms of what their stance is with is. The reason why it (meeting) has pushed the share price down is maybe because we haven't had a positive outcome (before)," GT247 trader Paul Chakaduka said. (Reporting by Nqobile Dludla Editing by James Macharia)

First Published: 2018-10-09 13:02:26
Updated 2018-10-09 13:38:27


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