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MTN says it is complying with sanctions against Iran

25 Apr 2012

The South Africa-based mobile group MTN says it is complying with all international sanctions against Iran, where it has a 49% stake in the number-two mobile operator Irancell. US president Barack Obama announced this week that technology firms in Iran and Syria would face tougher economic sanctions in an attempt to curb the use of technology to track anti-government activities. An MTN spokesperson told Dow Jones Newswires: ‘We have noted President Obama’s statement and continue to monitor the situation. MTN retains international legal counsel to advise us on the scope of United Nations, US, European Union and other relevant sanctions to assist us in remaining compliant with applicable sanctions.’

MTN is currently facing legal action related to its operations in Iran, with Turkish firm Turkcell filing a USD4.2 billion lawsuit over alleged corruption regarding the award of a mobile operating licence in 2005.

Iran, MTN Irancell

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