High Court dismisses Bharti Airtel application

TELECOMS

-
Image: By BiztechAfrica
High Court dismisses Bharti Airtel application

Econet reports that the High Court in Lagos, Nigeria, has dismissed an application by Bharti Airtel to set aside an award made by an international commercial arbitration tribunal in favour of Econet Wireless.

Econet says the judgement paves the way for the matter to be referred back to the international tribunal to set the quantum of damages and compensation that Bharti must pay to Econet Wireless. In Court papers, Econet said that it is submitting a claim valued in excess of USD3 billion.

 The international tribunal (comprising senior Nigerian and English lawyers) found multiple breaches of a shareholders’ agreement by both the selling shareholders and Celtel Nigeria, now Bharti Airtel Nigeria, ordering them to pay damages/equitable compensation to Econet (in an amount to be determined in a further round of the arbitration). 

The ruling said that the purchase of a 65% shareholding in Nigeria's second largest cell phone company, by Celtel, was violated the pre-emption rights of existing shareholder, Econet Wireless. Celtel’s parent company, Zain of Kuwait later sold the controlling stake to Bharti Airtel, the Indian telecoms operator. The international tribunal’s award was handed down in December last year.

The Court found that the International Tribunal had been correctly constituted, had jurisdiction and had acted correctly on all accounts.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE TELECOMS NEWS

Kenya mobile subscribers top 31.8m

The Communications Authority of Kenya reports that the number of mobile subscribers in Kenya rose 1.8 percent to reach 31.8 million in the first quarter of this year. Read More

World Bank to help rehabilitate DRC telecoms

Dilapidated, outdated and unreliable telecommunications infrastructure in the Democratic Republic of Congo (DRC) will be rehabilitated, rebuilt and modernised. Read More

30 phone brands registered with SON

The Phone and Allied Products Dealers Association (PAPDA) at Computer Village, Lagos says it has registered 30 brands of mobile phones with the Standards Organisation of Nigeria.  Read More

TNM dishes out K2.5m in Independence promotion

Premier mobile telecom operator TNM has dished out K2.5m worth of Mpamba value during the first draw of its commemorative promotion as Malawi celebrates 50 years of self rule. Read More

Airtel chief explains Touching Lives initiative

Airtel Nigeria says its launch of Touching Lives, a new corporate social responsibility (CSR) initiative, is meant to raise hope and inspire people. Read More

Vodacom Mozambique partners with Flytxt

Flytxt, a Big Data analytics solution provider for Communication Service Providers, has announced a strategic tie up with Vodacom, Mozambique’s leading mobile network.  Read More

CEC Liquid Telecom Zambia appoints new MD

The Liquid Telecom Group and Copperbelt Energy Corporation PLC have announced the appointment of Andrew Kapula as Managing Director of CEC Liquid Telecom in Zambia. Read More

MTN enhances data communications in Western and Central regions

MTN now has over 2275 2G sites and 1090 3G sites in as well as over 4000km of fibre in place in Ghana, to empower customers to do more with voice and data.  Read More

NCA lifts ban on Vodafone

The National Communications Authority (NCA) has lifted the ban imposed on Vodafone Ghana. Read More

Samsung Ghana bemoans influx of fake phones

Samsung Ghana has bemoaned the influx of fake Samsung products on the Ghanaian market and called for collaboration to combat it. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Widening ICT skills gap: Cause for concernWidening ICT skills gap: Cause for concern

Nigeria's FDI gains could be eroded by the widening gap in indigenous skilled ICT manpower, writes Kokumo Goodie.

IN DEPTH

Kenya rolls out e-extension to improve agricultureKenya rolls out e-extension to improve agriculture

In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.