MTN Group Limited fell in Johannesburg trading as the Africa’s largest mobile-phone company said it expects to report a first-half loss after agreeing to pay a record fine in Nigeria.
The shares dropped 2.5 percent to 138.13 rands by 11:25a.m., after earlier slumping as much as 3.8 percent, the most in three weeks on a closing basis.
The N330 billion ($1.18 billion) settlement in Nigeria, announced in June, will reduce earnings per share for the six months through June by 4.74 rands, while foreign-exchange losses, joint ventures and adjustments for inflation in Iran will further hurt results, MTN said in a statement yesterday.





























