{"id":15380,"date":"2012-10-08T17:38:44","date_gmt":"2012-10-08T15:38:44","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/s-africas-mtn-hit-by-slide-in-iran-rial\/"},"modified":"2012-10-08T17:38:44","modified_gmt":"2012-10-08T15:38:44","slug":"s-africas-mtn-hit-by-slide-in-iran-rial","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-mtn-hit-by-slide-in-iran-rial\/","title":{"rendered":"S.Africa&#8217;s MTN hit by slide in Iran rial"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Investors worried about rial impact on profit<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Iran currency down a third in 2 weeks<\/p>\n<p><span><\/span><\/p>\n<p>* MTN shares down nearly 5 pct this month<\/p>\n<p><span><\/span><\/p>\n<p>By Helen Nyambura-Mwaura<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Oct 8 (Reuters) &#8211; The impact of Iran&#8217;s<br \/>\ncurrency slide has reached beyond its borders, hitting shares of<br \/>\nMTN Group, the South African mobile operator that<br \/>\nderives nearly a tenth of its revenue from the Middle Eastern<br \/>\ncountry.<\/p>\n<p><span><\/span><\/p>\n<p>MTN, which has been unable to repatriate profits from its<br \/>\nIrancell unit because of Western sanctions on Iran, flagged in<br \/>\nAugust that further rial weakness would deflate its second-half<br \/>\nearnings.<\/p>\n<p><span><\/span><\/p>\n<p>Its shares were down 3.7 percent at 152.06 rand in afternoon<br \/>\ntrade in Johannesburg, bringing its losses this month to nearly<br \/>\n5 percent.<\/p>\n<p><span><\/span><\/p>\n<p>The rial has lost about a third of its value against the<br \/>\nU.S. dollar in the last two weeks as U.S.-led sanctions cut the<br \/>\ncountry&#8217;s ability to earn hard currency from oil exports.<\/p>\n<p><span><\/span><\/p>\n<p>MTN operates in 21 countries across Africa and the Middle<br \/>\nEast, including a 49 percent stake in Irancell.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Investors worried about rial impact on profit * Iran currency down a third in 2 weeks * MTN shares down nearly 5 pct this month By Helen Nyambura-Mwaura JOHANNESBURG, Oct 8 (Reuters) &#8211; The impact of Iran&#8217;s currency slide has reached beyond its borders, hitting shares of MTN Group, the South African mobile operator [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15380","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15380"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15380\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}