MTN Makes Progress With Nigeria on $10.1 Billion Talks

MTN Group Ltd. is making “steady progress” with Nigerian authorities over talks about $10.1 billion in claims, enabling Africa’s largest wireless carrier to push to settle the long-running dispute out of court.

The South African company is in ongoing discussions with Nigeria’s central bank and other institutions and is “narrowing down what the key issues are,” Chief Executive Officer Rob Shuter said in an interview in Cape Town on Tuesday. MTN’s strategy is twofold: seek legal action while simultaneously looking for an amicable resolution, he said. – Bloomberg