Orascom settles dispute with Chad
Reuters reports that Egypt's Orascom Telecom (OT) has announced that it has received USD4.9 million from Chad in a settlement over ownership of a Chadian mobile operator.
Chad's telecommunications ministry, the Office Tchadien de Regulation des Telecommunications (OTRT), invalidated the transfer of a 51% stake in Tchad Mobile from fixed line incumbent SOTEL, which would have given OT outright ownership. The Chadian Ministry of Telecommunications questioned the validity of the transfer, despite the fact that a valid agreement was entered into in late 2002 between the two companies.
As a result the Egyptian firm suspended the operations of Tchad Mobile in July 2004. OT took the case to the International Chamber of Commerce (ICC) in March 2005, which ruled against SOTEL and the Chadian government.