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MTN denies illegally channelling $14bn out of Nigeria

2016-09-29 02:00:00| Total Telecom industry news

Embattled telco's CEO insists allegations it colluded with banks to transfer funds are unfounded.

Tags: nigeria denies illegally mtn

MTN South Africa shutters mobile money service

2016-09-16 02:00:00| Total Telecom industry news

Telco says operating costs were prohibitively high; reaffirms commitment to financial services.

Tags: service money south mobile

MTN Irancell launches TDD-LTE network

2016-08-05 15:58:00| Telecompaper Headlines

(Telecompaper) MTN Irancell said it has launched the first wireless home and office broadband network (TDD-LTE) in Iran. The operator launched the services simultaneously in Mashhad and 24 other cities across the country. With this technology, users can experience a high stability rate in upload and download and a higher internet speed compared to the former technologies such as dial-up, ADSL and WiMAX, MTN said. The firm received the countrywide TDD-LTE License on 23 August 2015 and launched the pilot phase the next day. CEO Alireza Ghalambor Dezfouli expressed his hope of expanding the TDD-LTE service to the remaining provinces in the coming weeks.

Tags: network launches mtn network launches

MTN Group posts H1 loss, organic revenue up 1.5%

2016-08-05 10:38:00| Telecompaper Headlines

(Telecompaper) MTN Group has reported a 14 percent increase in revenue to ZAR 78.88 billion for the first half of 2016 from ZAR 69.21 billion in the same period in 2015. This was positively affected by exchange rate movements and data services growth; excluding forex effects, revenue rose 1.5 percent. The number of subscribers was flat at 232.6 million on 30 June compared with 31 December 2015. EBITDA decreased 38.4 percent to ZAR 18.88 billion, hurt by the Nigerian regulatory fine (ZAR 10.499 billion). The net loss totaled ZAR 5.5 billion versus a profit of ZAR 11.9 billion a year ago.

Tags: up group posts loss