Telecom Regulator to Review MTN Group's Outstanding Benin Invoices

By Maryam Cockar Features Dow Jones Newswires

MTN Group Ltd. (MTN.JO) said Thursday that a telecommunications regulator is reviewing why its Benin subsidiary has not paid outstanding invoices totaling $213 million.

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The Autorite de Regulation des Communications Eectroniques et des Postes contacted MTN on Wednesday about unpaid frequency fees for 2016 and 2017.

The South African-listed mobile operator said that the invoice from the Benin government is excessive.

However, MTN said that it will engage with the regulator to reach an amicable solution.

Shares in MTN were down 8.08 South African rand, or 1.2%, to 680.94 rand at 1547 GMT.

Write to Maryam Cockar at maryam.cockar@dowjones.com

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(END) Dow Jones Newswires

November 09, 2017 11:28 ET (16:28 GMT)