South African telecoms group MTN has said that it is working with US authorities to manage its compliance with US sanctions against Iran.
In a statement ahead of its annual general meeting, the company also said that it “continues to retain…
South African telecoms group MTN has said that it is working with US authorities to manage its compliance with US sanctions against Iran.
In a statement ahead of its annual general meeting, the company also said that it “continues to retain international legal advisers to assist the group in remaining compliant with applicable EU, US and UN sanctions.”
MTN is present in Iran via its subsidiary MTN Irancell. In late March, the South African company said that Turkish mobile operator Turkcell was seeking US$4.2bn in damages in relation to a licence agreement between Iran and MTN in 2005.
According to MTN, “Turkcell had threatened [MTN] with litigation in the United States alleging claims of corruption in relation to MTN’s bid to participate in the second mobile phone network in Iran.”
Turkcell confirmed, at the time, that it was filing the lawsuit in the US, arguing that “both companies have extensive business dealings in the United States” and that the allegations are about MTN breaching “rules of international law”.
MTN has previously rejected the accusations and today added that it “believes there is no legal merit to Turkcell’s claim and no basis for such claim to be brought before a US court and will accordingly oppose the claim.”
