MTN Group president Sifiso Dabengwa said they had expected Turkcell to drop the US$4.2 billion lawsuit. (whoswhozim.blogspot.com)
HumanIPO reported yesterday the Turkish operator had backed down from their claims of bribery and political pedaling against MTN over the issue of a telecommunications licence in Iran.
Reacting to the news, Dabengwa said they had expected them to back down, but “welcome” it nonetheless.
He added: “Now that this case is behind us, we are forging ahead with great determination towards achieving MTN’s newly launched vision to deliver a bold new digital world to our customers.
“MTN is one of Africa’s success stories, a great company founded on innovation, courage and values of honesty.”
The company is already present in 22 markets, with last week’s 2013 first quarter report showing a 3.2 per cent increase in its subscriber base globally.
The Johannesburg-based operator is one of 15 bidders on the shortlist to take up one of two available telecommunications licences in Myanmar, while Dabengwa has previously said they are looking to spend up to US$8 billion on acquisitions in Africa, the Middle East and Asia.