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

Vodafone Ghana provides ‘live-chat’ platform for customers

Vodafone Ghana says it has launched an online ‘Live Chat’ and ‘Support Centre’ to enhance its range of customer care channels that offer timely and convenient response to customers’ queries. Read More

Juwah’s tenure at NCC ends

Dr. Eugene Juwah’s tenure as the Executive Vice Chairman of the Nigeria Communication Commission has come to an end. Read More

Etisalat sues MTN over anti-competitive practices

Etisalat has instituted legal action against Nigeria’s dominant operator, MTN, over practices it says threaten its business. Read More

Orange increases interest in the Moroccan operator Méditel with the acquisition of an additional 9%

Fipar-Holding (the Moroccan Caisse de Dépôt et de Gestion group), FinanceCom and Orange signed the final documentation increasing Orange's interest in Méditel, the Moroccan telecommunications operator, in application of the agreements they signed in December 2010. Read More

Safaricom gives network assurance ahead of Obama visit

Safaricom has assured its subscribers that minimal network disruptions shall be experienced during visit of US president Barack Obama. Read More

Airtel unveils next gen enterprise solution in Ghana

Maxwell Dodd, Director of Airtel Business, Airtel Ghana Airtel Ghana says it is setting the new standard for Enterprise business solutions with the  launch of its business oriented sub brand, Airtel Business. Read More

Tigo Africa Customer Operations Director visits Ghana

The Customer Operations Director for Tigo Africa, Ingeborg Nieuwenhuis, has just concluded a week-long visit to Ghana.  Read More

Tigo reinforces security at cell sites due to battery theft

Tigo says it is determined to invest to ensure a reliable and stable network for its customers despite rampant cable cuts and increasing battery theft.    Read More

MTN Ghana introduces Relationship Managers

Subscribers of MTN Ghana can now get any challenges resolved quickly and amicably, thanks to the introduction of Relationship Managers at MTN Ghana’s 82 customer service points across the country. Read More

Airtel showcases SmartROAM

Airtel Nigeria has launched a new roaming service that will enable Airtel customers to receive unlimited free incoming calls when roaming in five major countries across five continents. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

Kenyan SACCOS riding on innovation to attract customersKenyan SACCOS riding on innovation to attract customers

As confidence in mainstream banks remains low due to prohibitive interest rates, customers are embracing Savings and Credit Cooperatives (SACCO) as an alternative.

IN DEPTH

As curtain falls on MDGs, what next?As curtain falls on MDGs, what next?

Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.