Reuters:

Pretoria's former ambassador to Iran, Yusuf Saloojee, was arrested in South Africa on Thursday over allegations of corruption related to telecoms giant MTN's cell phone operating license in the Islamic Republic, police said on Friday.

MTN shares fell on the news. Saloojee allegedly received 1.4 million rand ($100,000) to help facilitate the reversal or cancellation of a license awarded to Turkish mobile operator Turkcell, a police statement said.

The 15-year license, worth about $31.6 billion, was subsequently handed to MTN, which the police said had reportedly come in second initially.

MTN did not immediately provide a comment. Reuters could not immediately contact Saloojee or his representative.

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