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MTN withdraws Supreme Court challenge against Ghana market regulator

It said it will seek an amicable resolution with the regulator.
Image: Moneyweb

South African mobile operator MTN’s Ghana unit said on Tuesday it was withdrawing a legal challenge it had filed to the Supreme Court over the market regulator’s move to designate it a significant market power.

“It is our expectation that this action will pave the way for further discussions and an amicable resolution, in the spirit of the renewed channels of engagement,” the company said in a statement.

In June the National Communications Authority (NCA) said it wanted to ensure a level playing field for all network operators in the west African country, where MTN’s data subscriptions amounted to almost 70% of the market in January to March.

The NCA said it would implement a series of measures including a favourable connection rate for disadvantaged operators and the setting of floor and ceiling pricing on all minutes, data, text messages and mobile money.

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I don’t get it! What is tge plan here? You gonna summarily declare a surrender unilaterally?
Hoping for what? This move, or similar one cost shareholders money in Nigeria – leading to unpalatable and undisclosed ‘agreements’ being made away from the court, and ending up with the company ‘eating the losses’.
The courts are there for a reason. No? Or is the fear now that ‘we will win, and that would piss off the regulator!’ Or am I missing something in this strategy? What shall I call it: Pr-emptive unilateral surrender.
I hope they prove me wrong, but these numerous out of court settlements are costing us shareholder more and weigh heavy on the share price (several years running now).

End of comments.

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