Johannesburg - Shares of mobile telecom giant MTN fall by over percent after Ivory Coast's government names it as one of five companies that risk losing operating licences due to poor levels of service.
The Ivorian government also plans to ensure that the country's seven operators are at least 15 percent locally owned.
MTN International holds 64.67 percent in the Ivorian subsidiary and the remaining 35.33 percent belongs to other unspecified shareholders, its website says.
Ivory Coast, French-speaking West Africa's largest economy, has around 18 million mobile phone subscribers out of a total estimated population of 24 million.
Other existing operators are France Telecom's Orange, Libya's Green, Etisalat's Moov and Koz of Lebanon-based Comium.
MTN shares are down 2.4 percent at 166.85 rand, making it the biggest decliner on the benchmark Top-40 index. - Reuters