MTN ‘panicking’ over US Treasury sanctions

2012-11-10 20:01

Sanctions announced this week by the US Treasury against Iranian individuals and companies have led to panic at mobile operator MTN.

MTN is being sued in the US for allegedly bribing Iranian officials to obtain an operating licence, while it is negotiating with the US Treasury to allow the operator to expatriate its cash profits from Iran before the Iranian rial completely bottoms out.

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