This means that nigerian NCC reduces the fine to one third of the entire fine, MTN is excpected to pay the fine before the end of December.
MTN said on Thursday that it had received the formal letter from the commission on Wednesday and was “carefully considering” a reply.
“The executive chairman, Phuthuma Nhleko, will immediately and urgently re-engage with the Nigerian authorities before responding formally, as it is essential for the company to follow due process to ensure the best outcome,” the company said.
NCC fined 5.2 Billion Dollars in October for failure to deactivate 52 million un registered lines on the MTN network and gave MTN until November to pay.
MTN could not meet up with the payment deadline and was still negotiating, until yesterday when NCC decided to reduce the fine to $3.4 billion.