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MTN - Update on MTN"s investment in IranCell

Release Date: 29/11/2005 11:22
Code(s): MTN
Wrap Text

MTN - Update on MTN"s investment in IranCell MTN Group Limited Incorporated in the Republic of South Africa) Registration number 1994/009584/06) Share code: MTN ISIN ZAE000042164 ("MTN") Update on MTN"s investment in IranCell Shareholders are referred to SENS announcements made on 20 October 2005 and 21 November 2005 in respect of MTN"s 49% investment in Sherkate Khademate Ertebati- E-IranCell (IranCell Telecommunications Services Company) (IranCell). Following the payment of the up-front licence fee of Euro300 million on 21 November 2005, the Minister of Communications and Information Technology of the Islamic Republic of Iran has now formally issued the second GSM licence to IranCell, effective 27 November 2005. MTN, together with its local partners in IranCell, will now commence with the implementation of the extensive network roll-out in compliance with the licence conditions. Further information will be released in due course. 29 November 2005 Fairland Merrill Lynch (Pty) Limited Date: 29/11/2005 11:22:04 AM Supplied by www.sharenet.co.za Produced by the JSE SENS Department

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