MTN Group (MTNOY) shares have certainly recovered from the panicked levels of September 2018 as investors have had a chance to digest the real likelihood of the company having to make significant payments (again) to Nigeria’s government, as well to observe the real progress that the management team has been making with the business.
With the shares up more than 50% from my last article, sentiment has improved, but there are still serious ongoing uncertainties about the business in Nigeria, as well as the possible impact of sanctions (or worse) against Iran.