www.WirelessFederation.com/news: Orascom Telecom has reached a settlement with the country of Chad and has received a compensation of $4.9 million in satisfaction of an International Chamber of Commerce (ICC) panel award issued in OTH’s favour in the arbitration action brought by OTH against Sotel Tchad, the Chadian fixed telecommunication line operator, and the Republic of Chad.
The dispute arose after the Chadian Ministry of Communication decided to cancel the transfer of 51% of the shares of TchadMobile to OTH despite the fact that a valid agreement was entered into in late 2002 between OTH and Sotel Tchad. As a result, OTH suspended its operation of TchadMobile in July 2004. After its repeated efforts to resolve the matter with representatives of Sotel Tchad and the Government, OTH proceeded with the ICC arbitration on 4th March 2005.