×

UANI Issues Statement Regarding the Losses MTN has Suffered Due to the Crash of the Iranian Rial

NEW YORK--(BUSINESS WIRE)-- United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace, issued the following statement Monday regarding reports that MTN’s shares are incurring significant losses due to the crash of the Iranian rial:

As Iran’s currency plummets, so does MTN’s value. MTN’s irresponsible partnership with the Iranian regime has exposed MTN, its partners, and its shareholders to serious financial risk, given the international community’s ongoing work to isolate the regime.

MTN should finally cut its losses and pull out of Iran in order to salvage what remains of its reputation and spare its shareholders additional financial losses. MTN has blood on its hands from assisting the Iranian regime in brutalizing its own people. It was always clear that MTN’s Iran business activities were harmful to MTN’s reputation -- now it is clear that they are also disastrous to MTN’s finances. Companies around the world are taking note of the hardships MTN is now enduring. No responsible company can do business in Iran without exposing itself to serious and unacceptable risks. We call for a global boycott of MTN’s products and services and divestment from its stock, until it ends its reckless partnership with the Iranian regime.

MTN was a charter member of UANI's Iran Business Registry, launched in 2009, and a continuing focus of UANI’s Tech & Telecom campaign. MTN is the primary partner of the Iranian regime's mobile telecommunications systems, as a 49% shareholder in MTN Irancell, the rest of which is owned by the regime itself. MTN has carried out orders from the regime to shut off text messaging and Skype during times of political protest, and reportedly has a floor in its Tehran headquarters where Iranian military officials compile and access tracking data.

Click here to view UANI’s Iran Currency Tracker.
Click here to read UANI's February 29 letter to MTN.
Click here to read UANI's January 25 letter to MTN.
Click here and here to see UANI's MTN advertisements.
Click here to read the Mail and Guardian article, "National Anti-MTN adverts get local gag."
Click here to send a message to MTN.

UANI
Nathan Carleton, 212-554-3296
press@uani.com

Source: United Against Nuclear Iran