The High Court of South Africa has dismissed a $4.2 billion (R73 billion) Turkcell lawsuit against MTN.
MTN had a long-running dispute with Istanbul-based Turkcell, which was claiming damages against the mobile operator, as a result of MTN having acquired a 49% interest in Irancell in 2005.
The Turkish company said MTN engaged in illicit activity to obtain a GSM licence in Iran.
MTN issued a statement today saying the case has been dismissed with costs.
Through various communications since 2013, MTN shareholders are aware that Turkcell Iletisim Hizmetleri, and Turkcell’s wholly-owned subsidiary, East Asian Consortium (EAC), instituted legal action in the High Court of South Africa against MTN Group and certain of its subsidiaries in 2013, reads the statement.
In that action, Turkcell and EAC sought substantial damages ($4.2 billion excluding interest) from MTN, pursuant to allegations of impropriety in the award of the first private mobile telecommunications licence in the Islamic Republic of Iran, it adds.
During November 2020, Turkcell withdrew as a plaintiff, leaving EAC as the sole plaintiff in the action against MTN.
In a judgement handed down by the High Court of South Africa on 30 November 2022, EAC's action against MTN has been dismissed with costs, putting an end to the Turkcell litigation, says the telco.
“MTN is delighted at the outcome, as it has consistently maintained the Turkcell litigation was without merit. MTN had no provisions or contingent liabilities with regards to the Turkcell litigation.”
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