MTN - MTN pioneer status in Nigeria unchanged
MTN Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1994/009584/06)
Share code MTN
ISIN ZAE000042164
(`MTN`)
MTN PIONEER STATUS IN NIGERIA UNCHANGED
Notwithstanding speculation and otherwise in respect of a review of the pioneer
status involving a tax holiday for a period of five years granted to all GSM
operators in Nigeria, MTN Nigeria Communications Limited (`MTN Nigeria`) has
valid certification in respect of such pioneer status.
This concession has given MTN an opportunity to increase the speed and extent of
its investment and infrastructure roll-out in Nigeria. To September 2004 MTN
Nigeria has invested in excess of US$ 1,7 billion in infrastructure roll-out and
licence fees.
MTN Nigeria`s GSM network infrastructure extends to approximately 56 percent of
the population, covers more than 80 cities and towns and geographic coverage has
reached 278 000 km2.
Ends
14 March 2005
Johannesburg
Sponsor
Merrill Lynch South Africa |