MTN buys all of Cyprus business and legal Turkcell update

MTN have been in the news over the last week or so, we should have expanded on what looked like a rather important announcement. Here is the very best SENS from the MTN investor relations website: MTN -- delivery of report by Independent Committee. We were waiting for this, and I am sure that in recent days the stock has been lifted to higher levels on the basis that the allegations of an individual might actually be dismissed. That would obviously leave Turkcell with some egg on their face, if it was the case. Remember that this was the internal MTN investigation findings. Before you say, yeah right, I knew that was going to happen all along, bear in mind that Lord Leonard Hoffmann is chairman of this board tasked with looking into these allegations and his very good reputation is at stake. The next date to watch out for then is closer to the middle of this year, where the US Supreme court will decide whether or not it has jurisdiction or not. We will keep a close eye on this one.


The other newer and fresher piece of news is that MTN have announced this morning that they have increased their interest in MTN Cyprus to 100%. And there we thought all along that it was the odd one out, if you know what I mean. Odd one out in the sense that the GDP per capita in Cyprus is a great deal higher than their other operating territories. I suspect that MTN will continue to use a more mature and developed market, Cyprus, as a sign of things to come. The announcement does not even say how much half of the MTN Cyprus business is going to cost them. Small enough to not be reported, but I guess nevertheless an important market. I suspect that all markets are important for MTN, including Iran, where they are seemingly always up to some strange things. Including plastic jet fighters and sending monkeys to space. Real or not, this is what folks I read think of it: Iran's New 'Super' Stealth Fighter Jet Is Totally Fake.