MTN says Iran exit is not imminent

MTN Group of South Africa says it has no ‘immediate’ plans to exit is operation in Iran, though it is expecting to ‘dispose of its operations in the Middle East in an orderly manner over the medium term, which is over the next three to five years’. The group says its 49% subsidiary MTN Irancell will continue to operate as before and ‘business will be run as usual’. MTN has confirmed that it is in ‘advanced talks’ to offload its business in Syria, with operations in Afghanistan and Yemen next in line for a sale as it moves to focus its strategy on Africa.