MTN Falls Most In 17 Years As Nigeria Operations Hurt Profit – Bloomberg

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Bloomberg,

MTN Group Ltd. shares declined the most in more than 17 years after Africa’s biggest wireless company said 2015 earnings fell at least 20 percent and talks on a record $3.9 billion fine in Nigeria remain unresolved.

The stock fell 18 percent, the most since August 1998, to 126 rand at the close in Johannesburg, the lowest since Feb. 2. That snapped five consecutive days of rises through Thursday, and extended the stock’s decline since the Nigerian penalty was made public in October to 34 percent.