Telkom faces R4bn Multi-Links damages claim
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.
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Source: TechCentral
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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.
