By Adria Calatayud

MTN Group Ltd. said Friday that a Syrian court has placed MTN Syria under judicial guardianship following a lawsuit filed by the Syrian Ministry of Telecommunications and the Syrian Telecommunications and Post Regulatory Authority.

The South Africa-based telecommunications company said it strongly disagrees with the allegations made and the ruling, and that it intends to file an appeal. The company said it is also considering other appropriate steps to take in light of the ruling.

The court has appointed Tele Invest's chairman to serve as the judicial guardian, responsible for managing day-to-day operations of MTN Syria, the company said. Tele Invest is a minority shareholder of MTN Syria.

MTN said it continues to monitor all developments to ensure it acts in accordance with applicable laws.

MTN Syria is one of the group's 21 operations. MTN in August said it planned to exit the Middle East over the medium term.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

02-26-21 0944ET