MTN Group Plans To Invest R540 Million In Iranian Broadband Expansion - Science/Technology

MTN Group Plans To Invest R540 Million In Iranian Broadband Expansion - Science/Technology - Nairaland

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MTN Group Plans To Invest R540 Million In Iranian Broadband Expansion by technative(op): 9:26am On May 31, 2017

MTN Group has announced plans to expand in Iran, signing a non-binding preliminary agreement to invest approximately R540 million into Iranian Fixed Broadband Provider, Iranian Net.

In a statement issued by the telecommunications company, the investment will acquire a 49% stake in Iranian Net. As a part of the agreement, MTN will provide further investments of approximately R3.4 billion in both equity and loans to facilitate Iranian Net meeting its rollout targets over the next five years.

Read: MTN Group invests over $16b in Nigeria, expresses faith in economy

The preliminary agreement remains subject to finalizing suitable transaction agreements.

Iranian Net has a national license for the construction and operation of an optical data transmission network and fibre optic access network across Iran.

read more http://itedgenews.ng/2017/05/11/mtn-group-leads-on-broadband-expansion-in-iran/