Mobile Telecommunications Company Saudi Arabia (Zain Saudi) was ordered by an arbitration panel on Thursday to pay SAR 219.5 million to Etihad Etisalat Co. (Mobily), the telecom operators said in separate statements to Tadawul on Sunday.
Each telco was also ordered to pay SAR 1.16 million in fees to a specialist hired by the panel.
All other demands of the parties were rejected, the statements added.
Zain Saudi said the award will have no negative financial impact, since it allocated sufficient provisions earlier.
Mobily has been in arbitration with Zain, the kingdom's third-largest telco, since 2014. It had claimed that Zain owes the company SAR 2.2 billion for a 2008 contract, under which it provided Zain with domestic roaming and site-sharing services,Argaam earlier reported.
Zain had denied Mobily’s claims, adding that it only owed the company SAR 13 million.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}