Marketing & Media Media
Submit newsAdvertiseSubscribe
NewsPress OfficesCompaniesJobsEventsPeopleMultimediaFeaturesOpinion
AdvertiseSubmit news

Industries

All industriesAgricultureAutomotiveConstruction & EngineeringEducationEnergy & MiningEntrepreneurshipESG & SustainabilityFinanceHealthcareHR & ManagementICTLegalLifestyleLogistics & TransportManufacturingMarketing & MediaPropertyRetailTourism & Travel

Features

BizTrendsBizTrendsTVIMC ConferenceIAB Bookmarks AwardsOrchids and OnionsPrism AwardsLoeries Creative WeekMore Sections..
Agriculture
Automotive
Construction & Engineering
Education
Energy & Mining
Entrepreneurship
ESG & Sustainability
Finance
Healthcare
HR & Management
ICT
Legal
Lifestyle
Logistics & Transport
Manufacturing
Marketing & Media
Property
Retail
Tourism & Travel

News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

Submit content

My Account

Advertise with us

Subscribe & Follow

Advertise your job vacancies
    Post your Job Ad here >>
    Search jobs

    Marketing & Media Media

    Telkom faces R4bn Multi-Links damages claim

    African Prepaid Services Nigeria (APSN), a now-mostly-dormant company in which JSE-listed Blue Label Telecoms has an effective 37% stake, is claiming US$481m, or about R4bn at the prevailing exchange rate, in damages from Multi-Links, Telkom's former Nigerian subsidiary, after Multi-Links walked away from a lucrative, 10-year contract with the company.
    Duncan McLeodBy Duncan McLeod: @mcleodd
    22 Nov 2011
    22 Nov 2011

    Multi-Links has filed a counterclaim of $123,9m.

    Though Telkom has sold the Multi-Links business - the sale to Hip Oils Topco became effective in October - part of the agreement of sale stipulates that the JSE-listed telecommunications group must accept liability for "certain litigation claims" against Multi-Links if these claims exceed $10m.

    However, Telkom said this week it was "not considered probable" that the claims would exceed $10m and also that it had filed a counterclaim against APSN. Telkom had not responded to a query from TechCentral by the time of publication seeking details for its reasons for filing the counterclaim. However, it has said APSN has filed its defence to the counterclaim.

    Continue reading the full story on www.TechCentral.co.za.

    Read more: telecoms, Multi-Links, Duncan McLeod, TechCentral, Blue Label Telecoms
    Share this article
    NextOptions

    Source: TechCentral

    Founded by Duncan McLeod, TechCentral is the leading quality news and information resource for people involved in South Africa’s fast-growing information and communications technology industry and those interested in the fast-changing world of information technology. It provides quality news, reviews and comment relevant to its quickly expanding audience. Follow TechCentral on Twitter at TechCentral, become a Facebook fan and subscribe to the daily newsletter.

    Go to: http://www.techcentral.co.za

    About Duncan McLeod: @mcleodd

    Award-wining Duncan McLeod is the founder and editor of TechCentral (wwwTechCentral.co.za, @TechCentral]]), South Africa's latest technology news site offering breaking news, in-depth analysis and opinion that launched in September 2009. Before that, he was associate editor at the Financial Mail/FM. Contact Duncan on email duncan at techcentral dot co dot za and follow him on Twitter at @mcleodd.
    Related
    OptionsNext
    Let's do Biz