MTN starts exiting Middle East, but says no plans to leave Iran

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The Group, which is headquartered in South Africa, had earlier this month announced a decision by its board of directors that MTN would be best served in the future by focusing on its pan-African strategy.

It therefore stated that the company was looking to dispose of its operations in the Middle East in an orderly manner over the medium term, which is over the next three to five years.

“The group is in advanced talks to divest of its stake in MTN Syria. Next, it will look to reach agreement to dispose of its operations in Afghanistan and Yemen,” a statement on the Group’s website said.

It however noted that there were no immediate plans for the exit of MTN from Iran and the 51.7 million customers in Iran could rely on continuing to receive the great service they have come to expect from MTN Irancell.

The statement said the close collaboration between MTN Group and MTN Irancell – in which the group has a minority stake of 49% investment shareholding – will continue as it is, and business will be run as usual.

“We would also like to assure all our stakeholders of our best attention,” it said.

 

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