Court dismisses Bharti appeal
TELECOMSBy BiztechAfrica - May 8, 2012, 5:29 p.m.
The Federal High Court of Nigeria has dismissed Bharti Airtel’s application for a stay preventing a decision in favour of Econet Wireless.
Bharti sought the stay to prevent Econet Wireless from enforcing its rights pending Bharti’s appeal of a ruling handed down in January 2012. In the earlier judgment, the court ruled that Econet Wireless is entitled to a 5% shareholding in Econet Wireless Nigeria Limited (“EWNL”) and its share certificates must be re-issued.
The court said as a shareholder, Econet Wireless had a right to participate in all decisions which required shareholder approval. Consequently, all resolutions passed since October 2003 by shareholder agreement in which Econet was not invited to participate, are null and void and must be reversed.
The change to the name of the Company to Bharti Airtel Nigeria was also found to be irregular, null and void and must be reversed to rename the Company EWNL.
Econet Wireless says it will seek to implement the ruling without delay and to continue its work to ensure its rights under the law are upheld.
Meanwhile in Nigeria, the High Court in Lagos has set the date of 4 June to hear another injunction application by Bharti Airtel which has been filed and seeks to prevent an international arbitral process from assessing the amount of equitable compensation and damages due to Econet Wireless.
MORE TELECOMS NEWS
MTN Cameroon drops tariffs once moreMTN Cameroon has announced its Best tariff plan, allowing subscribers to double their airtime after each refill and benefit from call bonuses towards all networks. Read More
Vodacom thrills students with cloud computingVodacom, in its “power to you” initiative, has extended its ICT field trip and tour opportunities to schools in communities where it operates. Read More
Liquid Telecom expands African satellite operationAs part of a multi-million dollar (US) investment in its satellite business, Liquid Telecom is the first operator to build a satellite hub at Teraco’s vendor-neutral earth station in South Africa. Read More
MACRA demystifies spectrum managementMalawi's regulator explains the issues around spectrum allocation. Gregory Gondwe reports. Read More
Orange Telkom Kenya donates KSh 2.19 million for drought efforts in Northern KenyaOrange Telkom Kenya has extended its support to the Laisamis Livelihood Improvement project into the second phase with a donation of KSh. 2.19 million to World Vision Kenya. Read More
NCC imposes N647m fine on telcosNigeria's NCC has imposed fines in the total sum of N647,500,000 million on three service providers, Airtel, Globacom and MTN Nigeria Ltd for failing to meet KPIs. Read More
Blu’s high speed WiFi is a hit for Accra MallThe Accra Mall is reaping the benefits of a high-speed WiFi installation by Blu Telecommunications, the 4G telecoms company. Read More
MTN: The journey must continueThe telecoms industry has spent the last 4 years on a journey towards cost-orientation, regulatory best practice and parity, and this journey must continue, says MTN. Read More
Nigerian 2.3 GHz auction winner namedBitflux Communications Limited has won Nigeria’s 2.3 GHz spectrum band licence auction, beating mobile operator Globacom. Read More
FEATURED STORYMACRA demystifies spectrum management
Malawi's regulator explains the issues around spectrum allocation. Gregory Gondwe reports.
BEST READ NEWS
IN DEPTHYouthConnekt launches Mobile Apps for Human Development Challenge in Rwanda
Rwanda’s Ministry of Youth and ICT and the UNDP, in close collaboration with Motorola Solutions, will power a Mobile App Challenge that will be implemented by YouthConnekt.