https://www.engineeringnews.co.za

MTN Group to buy 40% stake in Iranian broadband provider for R540m

8th May 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

Telecommunications giant MTN Group on Monday signed a nonbinding preliminary agreement to invest R540-million into Iranian fixed broadband provider Iranian Net for a 49% stake in the company.

Further investments of R3.4-billion in both equity and loans will also be made over the next five years to facilitate Iranian Net meeting its roll-out targets. 
 
“This investment represents an opportunity to capitalise on the continued strong growth expected in the Iranian broadband market, with an initial focus on eight of the main cities,” MTN said in a statement.

MTN in November last year revealed plans to expand its activities in Iran.

Subsidiary company MTN Irancell in February also invested in Iran Internet Group, which owns ride-hailing service Snapp.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.042 0.833s - 122pq - 2rq
Subscribe Now