MTN subscribers up by 4%

Johannesburg - MTN Group [JSE:MTN], Africa’s largest mobile operator, on Friday reported a 4% rise in subscribers for the first quarter, helped by increases in its key markets of South Africa, Nigeria and Iran.

MTN, which is currently the target of a lawsuit from rival Turckcell, said in a statement its subscribers totalled 170.6 million at the end of March, from 164.5 million at the end of December.

The number of subscribers rose by around 3% in South Africa and Nigeria, while its customers in Iran increased by more than 6%.

Iran has been a significant moneyspinner for MTN, although it has also brought serious controversy.

Turkcell is suing MTN for at least $4.2bn in a US court, claiming MTN used corrupt practices and promises of weapons to win its licence in Iran.

Turkey’s largest mobile operator initially won the bid for the Iran licence in 2004. Tehran later backed out of the deal and awarded the business to MTN in 2005.

MTN has said the case has no legal merit.

Shares of MTN were up 1.4% at R136.41 at 11:46 GMT.

Read more on: mtn group
Gavin Simpson 2012-05-04 03:33:27 PM
Alas, I am one of those who made a BIIIG mistake signing an MTN data contract. As soon as it's over.... g'bye MTN.
Ryan Rogers 2012-05-05 08:25:02 AM
end of the day . . . mtn's signal reliability is far better then other cell phone providers so i say why not? GO MTN !!!
Courtley Phasha Collen 2012-05-05 11:33:58 AM
Everywhere u go. Its gonna rise far more than this as soon as cell phone users starts to realize how itS rival comPetitor sucks their pockets. With bills higher for the same network than mtn to them. Go MTN gO.
rafal.jurkiewicz 2012-05-05 06:06:46 PM
Time for me to join the rants of others where journalists reports are of very poor quality. 170.6mil - 164.5mil = 6.1mil 6.1mil / 164.5mil = 3.7% (not 4%) 0.3% of 164.5mil = 493 500 493 500 subscribers is a lot to oversee by rounding up numbers. I am starting to believe less and less in articles presented online, and prefer to dig up stories on the forums... /rant over
Rampoka 2012-05-05 07:11:20 PM
Mtn must now pay back 2 d the poor people who made it wat it is now. They must give out mo funds and take more students d varsities.
Fred Fraser 2012-05-06 05:32:55 AM
The company's being sued for offering to arrange an arms deal for the terrorist Iranian regime in exchange for its license. South Africans who went through Apartheid should stay away from this company like the plague. It should not receive ANY money from us.
Fred Fraser 2012-05-06 12:48:37 PM
The Chinese telecom firm Huawei carried out orders from the Iranian government and MTN Irancell to suspend text messaging and Skype, popular among political dissidents. The Iranian regime adjusted the results of that election, like Robert Mugabe did in Zimbabwe. This is what MTN subscribers are supporting.