MTN Group exit plans to concentrate on Syria, Afghanistan and Yemen – Iran exit not imminent

MTN Group and MTN Irancell said on 10 August that there were no immediate plans for the exit of MTN from Iran.

A few days after the announcement to exit the Middle Eastern markets, the company today stated, that there are no imminet plans to sell its stakes in its Iranian operations.

MTN Group, which is headquartered in South Africa, announced last week that its board of directors had decided that MTN would be best served in the future by focusing on its pan-African strategy. The operator currently has 51.7 million customers in the republic.

As a result, it would look 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.

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

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