Africa's MTN buys stake in Iran cell firm
Bloomberg News
THURSDAY, OCTOBER 20, 2005
CAPE TOWN MTN Group, in its first expansion outside Africa, said Wednesday that it had bought a 49 percent stake in the No. 2 Iranian mobile phone company, replacing Turkcell Iletisim Hizmetleri.
The Iranian government last year chose Turkcell over MTN in bidding for 70 percent of the cellphone company, IranCell. Iran ruled in February that a foreign company could hold no more than 49 percent of the new company. Then, in June, Iran broke off talks with Turkcell in favor of MTN. No reasons were given.
IranCell last year won a tender to become the country's second mobile operator as the state monopoly of the telecommunications industry ended. MTN did not specify how much it paid for the stake in IranCell.
"The license process requires the payment of an up-front license fee of 300 million," or $359 million, the Johannesburg-based company said, adding that it had "provided a payment guarantee" for that amount to the Iranian government.
CAPE TOWN MTN Group, in its first expansion outside Africa, said Wednesday that it had bought a 49 percent stake in the No. 2 Iranian mobile phone company, replacing Turkcell Iletisim Hizmetleri.
The Iranian government last year chose Turkcell over MTN in bidding for 70 percent of the cellphone company, IranCell. Iran ruled in February that a foreign company could hold no more than 49 percent of the new company. Then, in June, Iran broke off talks with Turkcell in favor of MTN. No reasons were given.
IranCell last year won a tender to become the country's second mobile operator as the state monopoly of the telecommunications industry ended. MTN did not specify how much it paid for the stake in IranCell.
"The license process requires the payment of an up-front license fee of 300 million," or $359 million, the Johannesburg-based company said, adding that it had "provided a payment guarantee" for that amount to the Iranian government.
Elmat: Your article is confusing ... Is Nokia in the IranCell game along with Huawei? The answer is Yes, this is clearer ...
He said that putting to use IranCell’s GSM production line was a great national pride for Iranian industries and the private sector, emphasizing, “In order to achieve that goal we established an international consortium comprised of Nokia and Hwavi, and a number of Iranian manufacturers.”
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