News: MTN Group Ltd (MTNOY.PK)
20 Dec 2013
Fri, Nov 29 2013
JOHANNESBURG - Turkcell's $4.2 billion lawsuit against South African rival MTN Group is unlikely to be heard in a Johannesburg court before early 2015, MTN's chief executive said on Friday.
JOHANNESBURG, Nov 29 - Turkish mobile operator Turkcell's $4.2 billion lawsuit against South African rival MTN Group is unlikely to be heard in a Johannesburg court before early 2015, MTN's chief executive said on Friday.
JOHANNESBURG - Better U.S.-Iranian relations would be very welcome for South African mobile phone operator MTN Group as it has been unable to repatriate around $450 million from a unit in Iran due to sanctions, a company spokesman said.
(Corrects Oct 22 story to show Iran contributed nearly 10 pct of 2012 revenue, not 24 percent)
JOHANNESBURG - Turkish mobile phone company Turkcell has taken to a South African court with its $4.2 billion lawsuit against rival MTN Group, alleging it was the victim of corruption and bribery that caused it to lose a contract in Iran.
* MTN says case has no legal merit (Adds lawsuit details)
JOHANNESBURG, Nov 27 - Turkish mobile operator Turkcell is claiming damages of at least $4.2 billion against rival MTN Group, which it alleges used "corruption and bribery" to win a mobile licence in Iran.
ISTANBUL, Nov 27 - Turkish mobile phone company Turkcell said it has opened a lawsuit in South Africa against rival telecoms company MTN Group seeking damages for losses that Turkcell said it had incurred.
JOHANNESBURG - Shares of MTN Group gained more than 2 percent on Monday on hopes a landmark deal on Iran's nuclear program may unlock millions of dollars the South African mobile operator has locked up in its largest Middle East market.
* MTN dismisses complaint as "spurious" (Adds MTN, Vodacom reaction)