Phuthuma Nhleko, chief executive of MTN in South Africa South African mobile phone operator MTN Group withdrew its lawsuit against Nigeria’s regulator over a $3.9 billion fine and paid $250 million towards a possible settlement. A judge in Lagos last month gave both parties until March 18 to reach a settlement, after MTN had asked the court to arbitrate over the dispute, saying the Nigerian Communications Commission (NCC) had no legal grounds to order the fine. MTN, which makes 37 percent of its sales in Nigeria, said it would withdraw its court challenge in an effort to reach an amicable
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