South African police arrested a former ambassador to Iran on corruption charges related to the award of a mobile phone licence to MTN Group after it was initially given to Turkcell.
MTN Group on Wednesday confirmed reports that three senior managers have been arrested and deported by the Ugandan government.
MTN Group remains on track to report a total 2018 dividend of R5/share, despite “continued challenges in repatriating funds from MTN Irancell”, it said in notes alongside interim results for the six months to 30 June.
MTN Group has warned that renewed US-led economic sanctions against Iran had once again tied up funds in its second biggest market, scuppering plans to turn the country into a cash cow after years of troubles.
MTN Group’s R10-billion plan to extend fibre home broadband connections to Iranian cities has been put on hold because of looming economic sanctions imposed by US President Donald Trump.
MTN Group CEO Rob Shuter said on Thursday at the telecommunications operator’s annual general meeting of shareholders that it still expects to declare a full-year dividend for 2018 of R5/share despite impending US
US President Donald Trump’s decision to re-impose sanctions on Iran may limit the ability of MTN Group to repatriate cash, both in the form of dividends and loans, from its investment there, it warned on
Turkcell has hit back at rival MTN, accusing the company of advancing “a variety of expected and meritless technical legal defences” as the two companies prepare to square off in the high court in Johannesburg over the awarding
MTN Group has moved to have Turkcell’s $4.2bn (R59bn) lawsuit against it thrown out by the high court in South Africa, arguing, among other things, that several previous attempts by its rival, in other forums, to seek redress against
Fluctuating exchange rates have hit MTN’s numbers for the third quarter hard, with reported group total revenue and group service revenue reducing by 13.4% and 14% respectively year on year. However, in constant currency terms, the