MTN given 2 months to settle fine.

MTN Nigeria, which is disputing a $3.9 billion fine from the country’s telecoms regulator, has been given until 18 March to try to settle the issue outside of the courts.

Earlier this week, MTN reportedly said it will not pay a “dime or penny” of the fine imposed by the Nigerian Communications Commission in October for its failure to cut off unregistered SIM cards from its network.

However, in a new statement to shareholders, it revealed that a federal high court judge in Lagos has “adjourned the matter to 18 March 2016 in order to enable the parties to try and settle the matter. If the parties are unable to reach a settlement the matter will then proceed on that date.”

The fine, which originally stood at $5.2 billion, was cut by 25 per cent after lengthy negotiations, but MTN was still not satisfied, and said in December it would take the issue to court.