Archive | Communication

ZTE Corp Pleads Guilty in Sanctions Case

By John Lee. Chinese telecom equipment maker ZTE Corp has pleaded guilty to conspiring to violate U.S. sanctions by illegally shipping U.S. goods and technology to Iran. The guilty plea was part of an agreement the company reached earlier this month with U.S. authorities that also called for nearly $900 million in fines and other […]

ZTE fined $1.1bn for flouting US Sanctions

By John Lee. Chinese telecom giant ZTE Corporation (Zhongxing Telecommunications Equipment Corporation) has agreed to plead guilty to charges that it shipped US-made equipment to Iran and North Korea, and has been fined $1.1 billion. The equipment included routers, microprocessors and servers controlled under export regulations for “security, encryption… and/or anti-terrorism reasons“. Steven T. Mnuchin, US […]

Indigo Holdings buys into Iranian Online Classifieds Marketplace

Indigo Holdings plc (NEX: INGO), the Middle East focused Investment Company that provides investors with exposure to early stage businesses, has invested €375,587 (approximately £320,000) in Net Tejarat Ahoura Company (“Net Tejarat), which owns 100% of the issued share capital of Sheypoor, a leading Iranian online classifieds marketplace. Indigo has acquired a 1.09% stake in […]

MTN reviewing further Investment Opportunities in Iran

By John Lee. South African telecom giant MTN Group has said the repatriation of monies from MTN Irancell is “expected to be normalised“. The company said that, following the easing of sanctions, it expects growth in the Iranian economy, and sees significant opportunities to expand its services, particularly in the digital space. In its full-year results […]

US allows China’s ZTE to Continue Working With Iran

By John Lee. Chinese telecommunications firm ZTE has been granted a reprieve from the U.S. to continue work with Iran until 29th March; this is the shortest reprieve granted by the US to ZTE. The Bureau of Industry and Security (BIS), which is part of the US Department of Commerce, has extended ZTE’s temporary general […]

MTN Irancell Invests in IIG

The Iran Internet Group (IIG), the leading internet group in Iran with several million unique and paid transactions every month, just announced the closing of a funding round led by MTN Irancell. The group, whose ventures include the by far market-leading car hailing platform Snapp, has secured the funding in a move that will further […]

South Africa’s MTN Eyes Expansion in Iran

A senior official with South Africa’s telecom giant MTN Group said it plans to increase its presence in Iran’s lucrative market following the removal of anti-Tehran sanctions. “We’re very excited about Iran and the possibilities there,” MTN’s newly appointed head of strategy, mergers and acquisitions, Stephen van Coller, said in an interview with Reuters. “That […]

WPP Signs Agreement with PPG in Iran

WPP, the world’s largest communications services group, has signed an affiliation agreement with PPG, the leader in digital marketing in Iran, which operates more than 15 top digital services companies in the country. According to a statement from the company, this agreement will give WPP and its clients access, on an exclusive basis, to the […]

Vodafone in Iran Infrastructure Deal

UK-based mobile phone company Vodafone and Iranian ISP HiWEB today jointly announced a new non-equity Partner Market agreement for Iran. Vodafone will assist HiWEB in rolling out and modernising network and IT infrastructure, expanding the fixed and mobile internet services – under the HiWEB brand – that HiWEB can offer to its Iranian consumer and […]

MTN Invests in “Iran’s Uber”

By John Lee. South African mobile phone company MTN Group has agreed to invest $22 million in Snapp.ir, Iran’s first cab-hailing smartphone app. Snapp CEO Shahram Shahkar informed Bloomberg that the funds would be used to allow the company to expand quickly from Tehran into other cities. He said it has grown to about 500,000 subscribers […]