The JSE announced on Monday that it has suspended MTN Group shares with immediate effect. By Gugu Lourie
“The JSE has halted trading in MTN Group Limited shares pending an announcement from the company,” the stock exchange operator said on Monday.
Africa’s biggest mobile phone operator is already facing an investigation by the JSE for possible insider trading related to the timing of its first statement to shareholders that the Nigerian Communications Commission (NCC) had fined them $5.2 billion.
Last week MTN announced that CEO Sifiso Dabengwa is in discussions with the Nigerian Authorities over the fine.