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    MTN Nigeria Slides amidst Huge Cross Deal

    Julius AlagbeBy Updated:No Comments1 Min Read
    MTN Nigeria Slides amidst Huge Cross Deal

    MTN Nigeria Slides amidst Huge Cross Deal

    Telecommunication company MTN Nigeria Plc saw its market value decline slightly in the equities market following a huge cross deal on the telecom stock on Tuesday. The deal allows stockbrokers to match a buy and sell orders of the same stock outside the purview of market regulators.

    According to data from the Nigerian Exchange, the telecom market value fell slightly to N5.1 trillion after a 16 basis point decline in its share price. More than 11.3 million shares of the telecom company valued at N2.738 billion exchanged hands on the local bourse, according to data obtained from the Nigerian Exchange.

    Stockbrokers said there was a crossed deal where 8.5 million shares of MTN Nigeria were priced at N243. The cross deal allows investors to close deals outside the Nigerian Exchange trading platform to stem price fluctuation.   The matching order reduced MTN price volatility ahead of the Q1 earnings release.

    #MTN Nigeria Slides amidst Huge Cross Deal MTN Nigeria Net Loss Grows by 192% to N400 billion

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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