IranCell is the provisional licensee for the second GSM licence in Iran.
The MTN Group has paid the Euro 300 million (US$352 million) up-front licence fee for the second GSM licence as required, and the Iranian Ministry of Communications is currently in the process of issuing the licence to IranCell. A further announcement will be made in due course.
Accordingly, MTN has withdrawn the cautionary announcement in respect of the investment into IranCell.