Sunday, January 17

JSE lifts the cease-trade on MTN’s shares, MTN starts trading again

The fine that NCC recently imposed on MTN and its managements has been making rounds on the news for a while now and its no news to anyone, except “we’ve” been living under a rock. Anyone who is also following the story would know that MTN is currently suffering a great number of losses and being on the receiving end of a lot of bureaucratic laws because of the negativity of the fine. Recently, the Johannesburg Stock Exchange (JSE) stopped trading on MTN’s stocks for some time after the a report in the Vanguard newspaper suggested that the company announced that it has finally accepted the fine from NCC.

Sequel to this publication, JSE ceased all trading operations that are occurring on MTN’s shares and this occurred at around the time of 10:34 to 1:54. The company itself however launched into some damage control procedures by announcing to its shareholders to take caution and not confirming any of what the reports had initially stated. At this, the JSE lifted the cease it had placed on MTN’s trading and activity was registered on the company’s shares once again.

The JSE released a statement to confirm that trading on MTN had begun again. The statement reads “After the company’s announcement released on SENS at 13:33, trading in the company’s shares will resume with a ten minute re-opening auction at 13:40.”

Source : All Africa

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