Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGFS.L Share News (GFS)

  • There is currently no data for GFS

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-MTN reviewing allegations after being named in U.S. complaint

Mon, 30th Dec 2019 14:17

* See complaint here: https://afghanistan.terrorismcase.com/wp-content/uploads/2019/12/2019-12-27-001-COMPLAINT.pdf
(Updates with G4S comment in 6th paragraph)

By Tanishaa Nadkar and Mfuneko Toyana

JOHANNESBURG, Dec 30 (Reuters) - South African telecoms firm
MTN on Monday said it was reviewing allegations raised
in a U.S. complaint which accuses several firms of paying
protection money to militant Islamist groups in Afghanistan.

The complaint was filed in the United States District Court
in the District of Columbia on Friday.

It alleges the firms violated the U.S. Anti-Terrorism Act by
paying protection money to al Qaeda and the Taliban, thereby
providing material support to known terrorist organisations.

It seeks damages on behalf of U.S. military members and
civilians killed or wounded in Afghanistan between 2009 and
2017.

"MTN is reviewing the details of the report and is
consulting its advisers but remains of the view that it conducts
its business in a responsible and compliant manner in all its
territories," the company said in a statement.

UK security services company G4S, which was also
named in the lawsuit, declined to comment.

The complaint follows investigations by a group of large
Washington-based law firms and alleges firms provided "material
support" to known terrorists leading to numerous U.S. injuries
and deaths, according to a statement by the law firms involved.

MTN spokeswoman Nompilo Morafo said the company could not
yet respond directly to the specific allegations in the report
as it was still going through the details.

"We cannot comment further than what we've said in the
statement. We want a chance to review the allegations. We only
received the suit on Friday and we're still going through it. I
also can't confirm how long it's going to take," Morafo said.

MTN is Africa's largest mobile operator and eighth biggest
in the world with 243.7 million subscribers. It has previously
faced scrutiny over its Iranian operations.

In February a former South African ambassador to Iran was
arrested on charges that he took a bribe to help MTN win a $31.6
billion licence to operate there.

The company has also faced costly disputes over unregistered
SIM cards, tax and dividend repatriation in Nigeria.
(Writing by Mfuneko Toyana; additional reporting by Pushkala
Aripaka; editing by Jason Neely)

More News
8 Sep 2020 13:31

TOP NEWS: UK Fraud Office Charges Former G4S Care & Justice Executives

TOP NEWS: UK Fraud Office Charges Former G4S Care & Justice Executives

Read more
8 Sep 2020 12:15

Three former G4S executives charged in Britain

LONDON, Sept 8 (Reuters) - Three former executives of G4S Care and Justice Services (UK), a security group, have been charged over a multi-year scheme to defraud the Ministry of Justice (MoJ), the UK Serious Fraud Office (SFO) said on Tuesday.Ric...

Read more
27 Aug 2020 09:57

UK BROKER RATINGS SUMMARY: Morgan Stanley Lowers Homeserve

UK BROKER RATINGS SUMMARY: Morgan Stanley Lowers Homeserve

Read more
27 Aug 2020 09:53

Legal Challenge Over Plans For G4S To Run New Mega-Prison

Legal Challenge Over Plans For G4S To Run New Mega-Prison

Read more
10 Aug 2020 09:43

UK BROKER RATINGS SUMMARY: RBC Upgrades Hastings To Sector Perform

UK BROKER RATINGS SUMMARY: RBC Upgrades Hastings To Sector Perform

Read more
6 Aug 2020 09:38

UK BROKER RATINGS SUMMARY: Liberum Says Buy XP Power, Cuts PageGroup

UK BROKER RATINGS SUMMARY: Liberum Says Buy XP Power, Cuts PageGroup

Read more
28 Jul 2020 12:29

RHI Magnesita Appoints Non-Executive Director As Deputy Chair

RHI Magnesita Appoints Non-Executive Director As Deputy Chair

Read more
24 Jul 2020 13:59

Friday broker round-up

(Sharecast News) - Unilever: Barclays upgrades to overweight with a target price of 5,470.0p.

Read more
24 Jul 2020 09:38

UK BROKER RATINGS SUMMARY: Barclays Raises Phoenix And Cuts M&G

UK BROKER RATINGS SUMMARY: Barclays Raises Phoenix And Cuts M&G

Read more
23 Jul 2020 11:23

G4S Suspends Payout To Save Cash; Profit Rises On Disposal Gains

G4S Suspends Payout To Save Cash; Profit Rises On Disposal Gains

Read more
23 Jul 2020 10:54

G4S beats H1 estimates, sees more demand for thermal cameras, screening staff

(Sharecast News) - Security contractor G4S said on Thursday that it had beaten first-half profit forecasts and expects to see an increased demand for thermal cameras and screening personnel as the globe looks to adapt to a "new normal" in the post-coronavirus-related lockdown world.

Read more
23 Jul 2020 09:47

UK BROKER RATINGS SUMMARY: Credit Suisse Raises Lloyds, Cuts NatWest

UK BROKER RATINGS SUMMARY: Credit Suisse Raises Lloyds, Cuts NatWest

Read more
23 Jul 2020 09:43

UPDATE 2-Earnings boost keeps UK stocks barely above red as virus concerns rage

* Unilever hits over 5-month high as sales fall less than feared* G4S gains on beating first-half operating profit estimates* Weak Wall St, U.S. jobs data spurs late-session losses (Updates to close)By Sagarika Jaisinghani and Ambar WarrickJuly 23 ...

Read more
23 Jul 2020 07:35

UPDATE 2-G4S profits beat, lockdown easing boosts security demand

* H1 profit of 187 mln pounds* Dividend still on hold* JPM says strong results in context of crisis* Shares up 6% (Adds shares, analyst comment, detail on outlook)By Yadarisa ShabongJuly 23 (Reuters) - Security contractor G4S Plc beat first-half pr...

Read more
23 Jul 2020 07:35

UPDATE 1-Security contractor G4S beats profit estimates, dividends still on hold

(Adds more detail on results, background)July 23 (Reuters) - Security contractor G4S Plc on Thursday reported first-half operating profit that beat market expectations, getting a boost from a solid performance in its core security business, but sa...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.