MTN to invest 540m rand in Iranian Net

MTN Group has signed non-binding preliminary agreement to invest in Iranian Net on Monday.The company also signed a non-binding preliminary agreement to invest approximately 540 million rand into Iranian fixed broadband provider, Iranian Net for a 49 per cent stake.

MTN’s agreement with further investments of approximately 3.4 billion rand in both equity and loans to facilitate Iranian Net was to meet its roll out targets of over next five years.