Wataniya keeps Tunisiana stake after court ruling

26 November 2007
Wataniya has kept its 50 per cent stake in Tunisiana, following a court ruling preventing its partner in the joint venture from seizing total control of the company.

The International Arbitration Tribunal, in Paris, ruled Wataniya had breached its agreement with joint venture partner Orascom Telecom, but the breach was not bad enough to give Orascom control of the entire company.
Wataniya and Orascom will continue to work together as the joint shareholders of Tunisiana.
Since the dispute started, Qtel has bought a 51 per cent controlling stake in Wataniya.
“We are delighted that the arbitrators have issued a binding opinion that puts this issue behind us and allows Wataniya Telecom to work constructively with Orascom to strengthen Tunisiana’s position as Tunisia’s mobile operator of choice,” says Sheikh Abdullah bin Mohammed chairman of Qtel.

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