MTN: Internal investigation has revealed that Iran deal was legitimate

In a Friday statement, Africa's biggest mobile-phone operator MTN Group Ltd. (MTN) said that an internal investigation, into the procedure which the company had followed for obtaining a wireless-service license in Iran back in 2005, has revealed that it had not violated any laws to secure the license.

The disclosure by MTN - that its Iran deal was legitimate - comes in the wake of the allegations which its rival Turkish mobile phone operator Turkcell Iletisim Hizmetleri AS had leveled against it, claiming that MTN had obtained the license by bribing South African and Iranian officials.

Turkcell was competing with MTN for securing the same license, to jointly run a mobile phone firm in Iran; but the deal was finally struck by MTN.

With MTN having secured the license, Turkcell filed a case against MTN in a US court, seeking $4.2 billion in damages. About its decision to file the case in a US court, Turkcell said that the decision was based on the fact that MTN had violated "rules of international law."

Meanwhile, about the results of the internal investigation, MTN said in the statement that a team of company-appointed investigators, under the leadership of former UK House of Lords Judge Leonard Hoffmann, had reached the conclusion that there was no evidence of bribes or promises which MTN had allegedly made for securing the South African government's support for Iran's nuclear policy at the International Atomic Energy Agency.

GermanTribune Specials

According to a Bloomberg report, social network Facebook is apparently working on a new app which will keep a track of the location of the users; and share that location with friends who are in the vicinity.

As per the Bloomberg report,...

Most Popular

In coincidence with the introduction of the revamped...

In a move which brings the cost of telecommunications in...

In a Monday announcement, British mobile operator Three...

British engineering company Dyson has recently announced...

Automotive News

  • EPA Rates Ford Fusion Energi as Most Fuel-Efficient Sedan in America
  • C-Max, and Fusion Hybrid Fail In Delivering Expected Fuel Economy: Consumer Reports Magazine
  • EDR installed in Light Passenger vehicle by 2014, proposes National Highway Traffic Safety Administration
  • Ford Fusion Receives 2013 Green Car of the Year Award
  • Jaguar Recalls Some XF Sedan Models

Banking & Finance

  • BOJ Expands its Asset-Purchase Program
  • Spain reduces Borrowing Cost
  • Bank of Ireland Prohibits Debt Forgiveness for Homeowners
  • Santander May Buy All Shares of Banesto
  • Spain Receives Funding to Support Banking System

Celebrity News

  • Gerard Depardieu Meets President Putin; Takes Russian Passport
  • Brad Pitt and Angelina Spending Time Together
  • Sir Elton and David Furnish Waiting for Another Child
  • Rihanna Denies Relation with Chris Brown

UK News

  • Three NHS managers to face public disciplinary hearings
  • BHF Calls for Volunteers for Fight Against Heart Disease
  • UK’s Dryathlon Campaign Raises £3m
  • Injured Tourist Hopes To Get Part of His Skull Back in Head
  • Rise in Mentally Sectioned Patients in England Calls for an Enquiry

News From Spain

  • Spain reduces Borrowing Cost
  • Spain’s Oldest Nuclear Plant on the Verge of Closure
  • Santander May Buy All Shares of Banesto
  • Barcelona’s Win over Atletico
  • Spain’s PM Rajoy determined about Educational Reforms