MTN threatened with closure

4 May 2011

The Guinean government has threatened to revoke MTN’s mobile network licence if it does not make a payment of EUR15 million (USD22.5 million) by the 2nd May writes Reuters. The issue dates back to 2007, when MTN acquired Areeba Guinea as part of its USD5.53 billion purchase of Investcom. Since then, the government of Guinea has claimed that it is owed EUR15 million. A spokesman for MTN in South Africa told the Reuters news agency that he could not immediately comment on the issue. According to TeleGeography’s GlobalComms Database MTN Guinea is the largest wireless network operator in the country, with 1.76 million customers at the end of 2010, giving it a 45.5% share of the market, ahead of Orange Guinea, Cellcom Guinea, Sotelgui and Intercel.

Guinea,MTN Guinea,

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