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Wataniya wins Tunisia case
- Qatar: Monday, November 26 - 2007 at 06:53
Wataniya, Qatar Telecom's national mobile telecommunications unit, plans to keep its 50% stake in a Tunisian mobile phone venture after winning an arbitration case against Orascom Telecom Holding, reported Bloomberg. Egypt-based Orascom in May 2006 said it would seek arbitration to force Wataniya to sell its holding in Tunisiana, which Orascom said it had a contractual right to buy to enable it to take full control of the company. An international tribunal found that 'although Wataniya did not respect the right to propose the appointment of Tunisiana's board chairman, this breach itself was not enough to require Wataniya to transfer its 50% shareholding to Orascom.'
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Jeff Florian, Senior ReporterMonday, November 26 - 2007 at 06:53 UAE local time (GMT+4)
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