In brief

11 March 2019

Mergers, Acquisitions and Financial Results

An arbitration tribunal of the Paris International Chamber of Commerce has settled a dispute between shareholders of Angola’s leading mobile operator Unitel by ordering its local owners to pay fellow stakeholder Oi of Brazil USD654.2 million plus costs, Jeune Afrique reports. The figure includes USD339.4 million representing impairment losses caused by violations of Unitel’s shareholders’ agreement and USD314.8 million in compensation for non-payment of dividends due since 2012, whilst Oi’s costs of more than USD13 million must also be reimbursed.