Business

MTN Group is in talks with U.S. and South African authorities over repatriating earnings from its Iranian business, the chief executive of the South African mobile operator said on Wednesday.

Sifiso Dabengwa also told reporters following the release of the company’s first-half earnings that MTN had not repatriated any funds from Iran in the last six to seven months.

MTN owns 49 percent of local operator MTN Irancell. The company has said in the past it was having difficulty moving money out of the country due to tightening U.S. sanctions against Tehran.

Reuters