Iraqi court dismisses USD4.5bn lawsuit against Zain

11 Jul 2014

An Iraqi court has dismissed the USD4.5 billion lawsuit against Zain Iraq, Reuters reports, citing a statement by its Kuwaiti parent to the local bourse. In April this year Zain Group revealed that its Iraqi unit was being sued over the UISD1.2 billion acquisition of rival operator Iraqna from Egypt’s Orascom Telecom in 2007. The unidentified company behind the lawsuit also sought damages from Iraq’s telecom regulator, the Communications and Media Commission (CMC), but both claims have now been thrown out. As the legal process unfolded, the portion of Zain Iraq’s revenue generated by subscribers inherited through the Iraqna takeover was placed under a legal guardian until the case’s resolution. Zain will now apply to get these restrictions removed, the statement added.

Iraq, Zain Iraq (formerly MTC Atheer), Zain Group,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share