MTN Heading for Biggest Two-Day Decline Since September
January 06, 2012, 5:43 AM ESTBy Stephen Gunnion
Jan. 5 (Bloomberg) -- MTN Group Ltd., Africa’s biggest mobile phone company, is headed for its biggest two-day decline since Sept. 30 after it announced plans to spend $1 billion in Nigeria and South Africa’s Business Day newspaper reported that its Iranian operation may be affected by sanctions that may be imposed on the country.
MTN fell 4.17 rand, or 3 percent, to 135.44 rand as of 12:32 p.m. in Johannesburg, taking its decline over the last two days to 5.8 percent.
To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net
To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net
