US sanctions are hurting MTN

[mylesillidge]

US sanctions hampering MTN's Iran exit

South Africa's MTN Group Ltd. said its plans to exit its investment in Iran are being hindered by US sanctions on the Middle Eastern nation.

"You cannot take money in and you cannot take money out," making the group's investment in that country "a frozen asset," Chief Executive Officer Ralph Mupita told reporters at a briefing in Johannesburg on Friday.

[Bloomberg]

 

[ToxicBunny]

US sanctions hampering MTN's Iran exit

South Africa's MTN Group Ltd. said its plans to exit its investment in Iran are being hindered by US sanctions on the Middle Eastern nation.

"You cannot take money in and you cannot take money out," making the group's investment in that country "a frozen asset," Chief Executive Officer Ralph Mupita told reporters at a briefing in Johannesburg on Friday.

[Bloomberg]

Should have thought of that before funding the IRGC hey Squirrel?

 

[Justanotherguybythesea]

Easiest thing to do is abandon the operations, and thus absolve themselves of all risk, and take the tiny loss as an offset to tax for the next couple of years, and a tiny drop in shareholder bonus. Probably will be profitable overall, and get rid of that risk entirely, but they want to both get the money, and have the 800 pound ginger gorilla like them.

 

[EmmanuelGoldstein]

Shame… me cry for you

 

[dualmeister]

Should have thought of that before funding the IRGC hey Squirrel?

 

[Hemi300c]

FAFO

Not only that but I have numerous people saying they are not renewing with the terrorists. And neither am I.

 

[My_King]

Can the CEE council not help them???

 

[ShaunSA]

"You cannot take money in and you cannot take money out," making the group's investment in that country "a frozen asset," Chief Executive Officer Ralph Mupita told reporters at a briefing in Johannesburg on Friday.

Have you tried using an airplane and cash Ralph?