MTN sketches out how it plans to exit Middle East and says no imminent exit from MTN Irancell planned

By bne IntelIiNews August 11, 2020

South Africa-based MTN Group and its partly owned subsidiary MTN Irancell have sketched out details on the group’s planned exit from the Middle East, explaining that the offloading of the operations in Iran will take place over a timespan across the next three to five years, Mobile World Live reported on August 11.

In a cited statement, the businesses dismissed media reports suggesting an imminent exit from Iran, adding that their customer base “could rely on continuing to receive the great service they have come to expect”.

The group reportedly said its collaboration with MTN Irancell would therefore continue unaffected and the business “will be run as usual”.

MTN also noted it planned to dispose of its units in the Middle East “in an orderly manner over the medium term”, with initial moves planned for operations in Syria, Afghanistan and Yemen.

The group, Africa’s largest mobile operator, owns 49% in MTN Irancell. It is the second largest mobile operator in Iran with 47mn connections in Q2, figures from GSMA Intelligence showed.

Outgoing MTN CEO Rob Shuter announced last week that the group had decided it would be best served by focusing on its pan-Africa strategy.

Related Articles

Kazakhstan and Uzbekistan’s combined IT exports surpass $800mn

Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more

Uzbekistan introduces national programme for digitalisation of agriculture

Uzbekistan has introduced the National Programme of Action for the Digitalisation of Agriculture. Aimed at modernising the country's agrifood system, the programme is the culmination of a ... more

Russian banking TCS Group suspends MOEX trading for conversion

Russian banking TCS Group Holding, which operates the country’s only pure online bank Tinkoff, has suspended the trading of its depository receipts on the Moscow Exchange (MOEX) from February 20, ... more

Dismiss