MTN says it working with the US to ensure compliance with Iran sanctions

The South Africa-based telecoms group MTN says it is working with authorities in the United States to ensure it is complying with sanctions against Iran. A statement from the group added that it ‘continues to retain international legal advisors’ to assist it in remaining compliant with applicable European Union (EU), United Nations (UN) and US sanctions. MTN is a 49% shareholder in Iran’s second largest mobile network operator, MTN Irancell. The South African firm is currently facing a USD4.2 billion lawsuit relating to its operations in Iran; Turkcell of Turkey alleges that MTN representatives bribed officials in Iran and South Africa to ensure it was awarded a mobile licence in place of Turkcell in 2005. MTN has denied the allegations.