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Ex-ambassador arrested over MTN deal

By News Express on 16/02/2019

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South African police arrested a former ambassador to Iran on corruption charges related to the award of a mobile-phone license to MTN Group Ltd. after it was initially given to Turkcell Iletisim Hizmetleri.  

The case has been the subject of legal claims for several years by the Turkish company, which accuses Johannesburg-based MTN of paying bribes to South African and Iranian officials to secure 49 percent of Irancell Telecommunication Co. Services. MTN has always denied the claims.

Yusuf Saloojee, 75, was seized by the Hawks, a South African anti-corruption police unit, over allegations he facilitated the cancellation of the Turkcell license by the Iran government, which enabled it to then be awarded to MTN. Saloojee is accused of earning 1.4 million rand ($99,170) for his role in the process, which was then used to buy a house in Pretoria, according to a statement by the Hawks.

MTN shares reversed gains and traded 0.8 percent lower to 85.25 rand as of 3:43 p.m. in Johannesburg, valuing the company at 161 billion rand. The company couldn’t immediately comment on the arrest. (Bloomberg)

Source News Express

Posted 16/02/2019 10:46:38 AM

 

 

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