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MTN GROUP LIMITED - Continuation in South Africa of legal proceedings by Turkcell Iletisim Hizmetleri AS

Release Date: 28/11/2013 08:16
Code(s): MTN     PDF:  
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Continuation in South Africa of legal proceedings by Turkcell Iletisim Hizmetleri AS

MTN Group Limited

(Incorporated in the Republic of South Africa)

Registration number 1994/009584/06

Share code: MTN

ISIN code: ZAE000042164

(MTN)



Announcement by MTN Group Ltd



Continuation in South Africa of legal proceedings by Turkcell Iletisim Hizmetleri AS



Shareholders are referred to the announcement released on the Stock Exchange News Service (SENS) of

the JSE Limited by MTN on 29 March 2012 (as read with the earlier announcement of 2 February 2012) in

which they were advised that Turkcell Iletisim Hizmetleri AS (Turkcell) and its subsidiary, East Asian

Consortium (EAC), had instituted a claim against MTN and its subsidiary, MTN International (Mauritius) Ltd

(MTNI) in the US District Court in Washington DC arising out of EAC’s unsuccessful effort to obtain the 2nd

GSM Licence in Iran during 2005 (US Proceedings).



As shareholders are aware, Turkcell's claims in the US Proceedings were withdrawn on 1 May 2013.



While summons has not yet been formally served on it, MTN understands that Turkcell has now issued

summons out of the South Gauteng High Court of South Africa against MTN, MTNI and others seeking

damages of approximately US$4.2 billion plus interest, arising from substantially the same allegations on

which the US Proceedings were founded.



Turkcell's allegations were investigated by a special committee (Hoffmann Committee) appointed by the

MTN board of directors consisting of an external chairman, Lord Hoffmann, and two independent non-

executive directors, and its findings reported by MTN on SENS on 1 February 2013. In summary, amongst

others, shareholders were advised that, after a thorough examination of Turkcell's allegations and

consideration of the available evidence, the Hoffmann Committee concluded that the allegations were

unfounded.



As stated before, MTN will accordingly continue to vigorously defend any proceedings instituted by Turkcell

in respect of such matters.



Fairland

28 November 2013



Sponsor

Deutsche Securities (SA) Proprietary Limited


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