MTN Group plans to invest $295 million in Iranian broadband network

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South Africa’s MTN Group has agreed to invest more than $295 million in Iranian Net, a fixed line broadband network in which it is to buy an initial 49 percent stake.

The outline deal announced on 8 May 2017 extends MTN’s interests in the Iranian telecoms market.

MTN will also to repatriate $1 billion in accumulated dividends from its 49 percent stake in wireless network operator Irancell.

The latest agreement is still at a non-binding stage.

MTN confirmed that it will pay ZAR540 million ($40 million) to buy a 49 percent stake in Iranian Net and will invest an additional ZAR3.4 billion in both equity and loans to help the Iranian company develop a fibre network over the next five years.

“This investment, should it be completed, represents an opportunity to capitalise on the continued strong growth expected in the Iranian broadband market, with an initial focus on eight of the main cities.”

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Thabo Mphahlele is the BizNis Africa Head of Sales and Marketing. Mphahlele was previously MultiChoice Production Support Analyst responsible for developing and monitoring applications. In addition, Mphahlele develops and automates batch scripts and is responsible for the daily infrastructure maintenance at MultiChoice. As a Production Support Analyst, he is responsible for incident analysis solving , developing and constructing business reports for SQL and Oracle and implement change controls for the business. Additional responsibility includes monitoring system performance via SOA, Kibaba (Elasticsearch), H.P BSM, HP Sitescope. Mphahlele is responsible for creating infrastructure performance reports through HP Ops Analytics, monitoring payments via Splunk and in-house built-in tool and disaster recovery simulation and testing. At Nashua Mobile, he was responsible for application development and enhancing the web sites At South West Gauteng College, he was the IT Technician and Network Administrator. During his tenure at Double Digit Media, he was he focused on application and web site development for new and existing clients Mphahlele contributes as a Content Manager for BizNis Africa.

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