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Broadband

MTN Group halts USD 750 mln fibre plan in Iran over US sanctions - report

Wednesday 1 August 2018 | 09:33 CET | News
MTN Group's USD 750 million plan to extend home fibre broadband connections to Iranian cities has been put on hold because of looming economic sanctions imposed by US President Donald Trump, Bloomberg reported.  A plan devised a year ago for MTN to buy a stake and extend loans to state-owned broadband provider Iranian Net has made little progress, said people who asked not to be identified. The Iranian government has not been able to contribute funding as it battles to shore up the economy and arrest a currency slump, Bloomberg quoted the people as saying. 

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Categories: Fixed
Companies: MTN / MTN Irancell
Countries: Iran (Islamic Republic of)
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