France's Orange is in preliminary talks to acquire a stake in Mobile Telecommunication Company of Iran (MCI), the country's largest operator, in what would mark the first significant deal involving a Western firm and a major Iranian company since nuclear sanctions were lifted in January, reports The Wall Street Journal, citing sources close to the talks. The talks are focusing on a commercial and technical agreement. However, an Orange spokesman told Reuters that the talks are focusing on a number of areas of potential cooperation and business topics, adding that they anticipate that these discussions will be concluded within a few months.
Reuters said the company did not specifically confirm or deny this but said that like many other international operators, Orange has been "considering opportunities in the Iranian market subsequent to the implementation of the JCPOA." The Joint Comprehensive Plan Of Action is the nuclear agreement struck between Iran and six world powers. The Orange spokesman said it is conducting feasibility studies to understand and assess what is possible in this complex environment, particularly with regards to certain economic sanctions that continue to apply to Iran.
