MTN Group has reported that regulators in Nigeria have extended its operating licence until 2021 despite the fact it faces a fine of $5.2 billion for failing to disconnect unregistered SIM cards.
The licence was valid until February next year, but MTN on Tuesday said it had received a letter from the Nigerian Commission confirming the renewal at a cost of just over $94 million.
Shares in MTN have dropped 25% since the fine was announced last week. About 37% of MTN's revenue comes from Nigeria.
Stephen Grootes spoke to MTN spokesperson Chris Maroleng about this latest development.
Grootes also spoke to EWN Nigeria correspondent Samson Omale, who said while MTN is hugely popular with consumers in that country, the media is dissatisfied with the communication from head office on the latest developments.
Listen to the conversation below: