South Africa’s MTN Group shares rose as much as 2.55 percent after the Nigerian central bank governor said on Sunday the bank may reduce the amount it has ordered the telecoms firm to repatriate as part of an ongoing disagreement, according to Reuters.
MTN and the central bank are in a dispute over the transfer of $8.1 billion of funds which the bank said the company had sent abroad in breach of foreign-exchange regulations. At 0837 GMT shares in MTN were up 2.03 percent to 85.50 rand.
Godwin Emefiele, Central Bank of Nigeria governor hinted at the weekend possibility of an amicable settlement that would see the fine being slashed.
