Wednesday 09, May 2018 by Jessica Combes

US decision on Iran may limit MTN cash repatriation from Irancell

 

The decision to pull the US out of the Iran nuclear accord may limit the South African telecoms firm’s ability to repatriate cash from MTN Irancell.

In 2018, South Africa’s MTN Group had repatriated about EUR 88 million from MTN Irancell, including EUR 61 million relating to the 2017 dividend due to MTN, as well as a further EUR 27 million of historic dividends, according to Reuters.

MTN is due an outstanding balance of approximately EUR 200 million and the company has said it is committed to its investment in Irancell and to repatriating the balance of legacy cash. MTN will continue to monitor the situation, including the response of the Iranian authorities and the other members of the Joint Comprehensive Plan of Action.

  

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