MTN Nigeria shares up 10% after government withdraws $2 billion tax case

PUBLISHED: Mon, 13 Jan 2020 17:38:50 GMT

LAGOS (Reuters) – MTN Nigeria shares rose 10% on Monday to their highest in two weeks after the country’s attorney general withdrew a $2 billion tax demand against the South African telecoms firm.

The company and attorney general both said on Friday that Nigeria’s attorney general had withdrawn the tax case.

Reporting by Chijioke Ohuocha; Editing by Jan Harvey

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.