Mobily, Zain Saudi first arbitration session postponed

Mobily, Saudi Arabia’s second-largest telecom provider, said on Sunday that the first arbitration session between its smaller rival, Zain Saudi has been postponed until Dec. 20, according to the mediating panel.

The panel said it would give both parties until Monday to agree on the designated location for the arbitration session, according to a statement issued by Mobily on Tadawul.

If both companies cannot agree on a location, the panel will meet on Dec. 16 to decide.

The tribunal scheduled an arbitration session for Dec. 20, in which Mobily will provide a written statement of its complaint to the panel.

Mobily recently filed for an arbitration, in which it claimed Zain Saudi owed SAR 2.2 billion for a services agreement signed by both companies in 2008.

According to data available on Argaam, Zain Saudi Arabia denied Mobily’s claims, saying that it owed the company SAR 13 million.