Cairo – Mubasher: Global Telecom Holding said Sunday that it will appeal a ruling by the Supreme Court of the United Kingdom in favour of Atheer Telecommunications Iraq on 22 March, according to a bourse filing.
The court ruled last February against Global Telecom to compensate Atheer $60 million, in addition to an accrued interest worth $7.75 million and GBP 1.25 million.
Earlier in November 2012, Atheer filed a lawsuit against Global Telecom and Orascom Telecom Iraq (OTI) before the Supreme Court of the United Kingdom, regarding the dispute of selling OTI’s subsidiary, Iraqna, to Atheer in 2007.
