South African telecoms group MTN has met with Nigeria's Securities and Exchange Commission to discuss a possible initial public offering -- and how it wants to structure the share sale. MTN is the largest mobile phone operator in Nigeria, with 57 million subscribers. The country accounts for about a third of MTN's total revenue. MTN Group says it aims to list its Nigerian unit in 2017, subject to market conditions. This is part of an agreement with the Nigerian government in exchange for a reduced fine of $1.7 B for failing to block unregistered SIM cards on its network.
- South Africa