The Turkish cellular operator issued summons out of the South Gauteng High Court of South Africa against MTN, MTNI and others seeking damages of approximately 4.2 billion US dollars plus interest.
“Turkcell's allegations were investigated by a special committee (Hoffmann Committee) appointed by the MTN board of directors consisting of an external chairman, Lord Hoffmann, and two independent non-executive directors, and its findings reported by MTN on SENS on 1 February 2013,” MTN said.
“In summary, amongst others, shareholders were advised that, after a thorough examination of Turkcell's allegations and consideration of the available evidence, the Hoffmann Committee concluded that the allegations were unfounded. As stated before, MTN will accordingly continue to vigorously defend any proceedings instituted by Turkcell in respect of such matters.”
Turkcell alleged that the South Africa-based GSM cellular network operator used bribery to win a mobile license in Iran that was first awarded to Turkcell.