MTN faces the risk of not being able to repatriate about R4.6bn from Iran if US President Donald Trump persuades his allies in Europe to reimpose sanctions on the Middle Eastern nation. MTN has been in discussions with Iran’s central bank to repatriate the remaining €300m in legacy cash that is stuck in that country, though those efforts could be scuppered if the US, UK and Europe pull out of the 2015 Iran nuclear deal. A decision is due to be announced on May 12. If the US withdraws but does not convince the EU to do the same, MTN will still be able to repatriate Iranian funds by exchanging them for euros and then rands. But a "worst-case scenario" would be for MTN’s Iranian business to be shut off from both European and US financial institutions as this would lock in MTN’s funding, MTN chief financial officer Ralph Mupita told investors on Thursday. "But we think there will be something less than that negotiated in and around the twelfth [May 12]," Mupita said. In April the Irania...
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