An MTN spokesperson has confirmed to Fin24 that the mobile network’s shares on the Johannesburg Stock Exchange (JSE) have been suspended on Monday morning.
[contextly_sidebar id=”pWbP2jaGwfsAjCwr8EXuHQuYezS2frMS”]Chris Maroleng, the executive for group corporate affairs at MTN Group, told Fin24 by phone that trading in the company’s shares had been suspended.
“We take note of the JSE’s decision to suspend MTN’s shares,” he said.
MTN’s share price has been under pressure in the last week after it confirmed last week that it’s been fined $5.2bn by Nigerian regulators for allegedly not disconnecting up to five million unregistered SIM cards.
This is a developing story.