Friday, March 30, 2012

Turkcell Sues MTN over Iran License

Shares in the mobile operator MTN slid on Friday when rival Turkcell filed a $4.2 billion suit against the South African company alleging it bribed officials in Iran to win an Iranian mobile operating license.

MTN is South Africa's top mobile operator and is widely seen as a post-apartheid success story. The company has said the Turkcell claim is without legal merit. Turkcell lost the bid for the Iranian license, which went on tender in 2004.

Source: Reuters, 30 March 2012

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