Abu Dhabi-Mubasher: The Arbitral Tribunal ordered Atlantique Telecom, an African subsidiary of Etisalat, to pay around 413 million euros in damages to SARCI, a minority shareholder in Telecel Benin, according to a bourse filing on Wednesday.
Two earlier arbitrations proceedings on the same issue were cancelled upon Atlantique’s request in 2008 and 2013.
Atlantique has initiated legal proceedings in order to obtain the cancellation of the award of this arbitration process and the suspension of any execution thereof.
