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Wireless

MTN faces Iranian repatriation risk over Trump's plans for sanctions

Monday 7 May 2018 | 07:19 CET | News
MTN faces the risk of not being able to repatriate about ZAR 4.6 billion from Iran if US President Donald Trump persuades his allies in Europe to reimpose sanctions on the nation, according to Business Day, citing group CFO Ralph Mupita. MTN has been in talks with Iran's central bank to repatriate the remaining EUR 300 million in legacy cash, but those efforts could be scuppered if the US, UK and Europe pull out of the 2015 Iran nuclear deal. A decision is due to be announced on 12 May.

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Categories: Mobile & Wireless
Companies: MTN / MTN Irancell / MTN Nigeria
Countries: Iran (Islamic Republic of)
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