Econet Wireless has announced in a press release on its website that a judge at the Lagos High Court has adjourned the proceedings of its case against Bharti Airtel to 4 October 2012. In February this year a tribunal set up by the United Nations Commission for International Trade Law (UNCITRAL) ordered Bharti to pay compensation to Econet Wireless, after the Federal High Court of Nigeria reinstated Econet’s 5% shareholding in Airtel Nigeria, claiming that the stake was unfairly cancelled, thus rendering any decision made since then without Econet void. The Indian telecoms operator inherited the ongoing legal case as part of its USD9 billion acquisition of Zain’s Africa operations in June 2010, including 65% of Zain Nigeria (since rebranded Airtel Nigeria).
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OVETEL Econet Wireless-Bharti Airtel case adjourned to October
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