MTN is in advanced talks to sell the stake in MTN Syria to TeleInvest, which holds the other 25% of the business, Group President and Chief Executive Officer Rob Shuter told media on a conference call as the firm reported its half-year results.
MTN's entry into the region has been marred by allegations, which it has denied, that it used bribes to win a 15 year operating licence in Iran and also that it aided militant groups in Afghanistan. The company's Middle East assets contributed less than 4% to group earnings before interest, taxes, depreciation, and amortization in the first-half ended June 30.
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