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MTN fighting back against Nigerian R904-million back-tax bill
The Naira’s plunge weighed on the earnings of Nigeria’s biggest wireless carriers.
MTN Group Ltd. increased its estimate of unrealised foreign-exchange losses in Nigeria and restated its earnings per share for the six months through June by 13%, while Airtel Africa Plc said its loss of $13 million was “driven largely by foreign-exchange.”
[Bloomberg]
The Naira’s plunge weighed on the earnings of Nigeria’s biggest wireless carriers.
MTN Group Ltd. increased its estimate of unrealised foreign-exchange losses in Nigeria and restated its earnings per share for the six months through June by 13%, while Airtel Africa Plc said its loss of $13 million was “driven largely by foreign-exchange.”
[Bloomberg]