Potential legal action by Turkcell Iletisim Hizmetleri AS
[Johannesburg, 6 February 2012] -
Shareholders will be aware that MTN, through one of its subsidiaries, owns a 49% shareholding in Irancell, which holds the second GSM telecommunications licence in Iran (2nd GSM Licence). The remaining 51% of Irancell is owned and controlled by Iran Electronic Development Company (IEDC).By way of background, Turkcell Iletisim Hizmetlera AS (Turkcell) and its subsidiary, East Asian Consortium (EAC), have brought a variety of legal proceedings arising out of EAC's unsuccessful effort to obtain the 2nd GSM Licence in 2005.In late 2005, EAC commenced (ultimately unsuccessful) proceedings against the Iranian Ministry of Telecommunications. In 2008, Turkcell instituted (currently pending) international arbitration proceedings against the Iranian government under a bilateral investment treaty.
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