Zain Saudi ordered to pay Mobily SAR 219.5 mln in dispute

13/11/2016 Argaam

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.

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