MTN accuses rival Turkcell of extortion

Turkcell, which unsuccessfully bid for the same licence, said in February that the cases were at international arbitration courts.

MTN has set up a panel, led by UK-based legal scholar Lord Hoffmann to investigate the charges.

A spokesman for Turkcell said the company had no comment at this stage.

MTN’s shares were up 0.7 percent at 143 Rand (US$ 18.92) at 1353 GMT, compared with a 0.09 percent fall by Johannesburg’s blue-chip index.

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