South Africa-based MTN Group continues to set its sights on participating in Iran’s fast growing telecoms industry, with this preliminary move to place nearl $40M in Iranian Net for a 49.5% stake in the company. MTN has growing stakes in Iran, with its minority ownership of Irancell, though MTN had slowed its expansion efforts in Iran due to US sanctions preventing the company from repatriating around $1B in revenue from its stake in Iran’s telecoms space. Now that those sanctions have lifted, we can expect to see more such deals in Iran.
BP must feel good about committing $1B to exploring for gas off the coasts of Senegal and Mauritania. The two companies found a well estimated to contain around 15 trillion cubic square feet of gas. Needless to say, the two companies will keep looking for more gas.
I’m sure non-resident Nigerians who go back to Nigeria to perform were not happy to hear about this case Deloitte makes for Nigeria to figure out its taxation policy for non-resident Nigerians in order to take advantage of another potential revenue stream for the country.