26 October  2015 - $5.2 Billion Fine imposed

Reports emerge of a $5.2 billion fine for MTN by the Nigerian Communications Commission. 

26 October  2015 – MTN Shares Tumble

MTN Confirms massive Nigerian fine, shares tumble 8%

28 October  2015 – R50 Billion Lost in market value

MTN is in discussion with Nigerian authorities to reduce its $5.2 billion fine. Share losses wipe R50 Billion in market value for MTN on the JSE

28 October  2015 –  MTN Nigerian Management Review

MTN says it will review the management of its Nigerian business unit as shares sink 19%

 28 October  2015 –  Commodity Revenues

MTN fine casts shadow on Nigerian government struggle with lower revenues from oil and foreign currency controls

  30 October  2015 –  MTN Downgrade

Ratings agency standard & Poor’s (S&P) has downgraded MTN from rom “BBB” and “zaAA+” to “BBB-” and “zaAA-”. The agency says that MTN operations in Nigeria, Ghana, Sudan, Syria, and Afghanistan are “high risk”  

  30 October  2015 –  MTN CEO

MTN confirms group CEO Sifiso Dabengwa is in talks with Nigerian authorities over $5.2 billion fine deadline of November  16

30 October  2015 –  MTN and JSE

The JSE announces an investigation into MTN for possible insider trading following the operator announcement of the massive Nigerian fine.

 30 October  2015 –  MTN and JSE Shares

MTN shares on the JSE wobble as investors digest the news of the investigation into the operator. MTN shares have reduced the company market value by R60 billion.

01 November 2015 –  MTN Market value reduced

MTN’s Market value reduced to R292 billion  from R350 billion as investors offload 90 million shares over the Nigerian fine

02 November  2015 –  MTN Share trading halted

The JSE halts trading in MTN Shares on Monday morning “The JSE halts trading on MTN group Limited. Trading will resume as soon as MTN Group Limited has issue a SENS announcement”

02 November  2015 –  MTN Share trading Resumes

After 13:54 on Monday, trade activity on MTN started again after the company issued a Statement to Shareholders urging them to Exercise Caution.