JOHANNESBURG - Mobile phone company MTN said on Wednesday the United State's decision to re-impose economic sanctions against Iran may limit the company's ability repatriate cash, both dividends and loans, from MTN Irancell.
It said during 2018 the group had repatriated approximately €88 million (R1,3 billion) from MTN Irancell, including €61 million (R913 million) relating to the full 2017 dividend due to MTN as well as a further €27 million (R404 million) of historic dividends.
The remaining balance due to MTN was approximately €200 million (R2.9 billion).
"MTN Group remains committed to our investment in Irancell and to repatriating the balance of legacy cash in Iran whilst remaining compliant with appropriate legislation," the company said.