The probe is into its conduct and that of its former subsidiary in Afghanistan and an Iranian cellphone carrier it partly owns. This development, and a slight downward revision of its medium-term service revenue outlook for its South African operation, sent its shares tumbling.
Group CEO Ralph Mupita said MTN had been informed by its external US counsel of the DoJ grand jury investigation, adding that it was cooperating and voluntarily responding to requests for information. Mupita declined further comment on the case.
MTN faces other ongoing legal cases in the US filed on behalf of American service members and civilians who were injured or killed in Iraq and Afghanistan between 2005 and 2010 who accuse it of violating the US Anti-Terrorism Act.