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Mobile Telecommunications Company Saudi Arabia (Zain) said it has decided not to apply for an invalidation of the arbitration ruling issued on Nov. 10, 2016 in the company’s dispute with Etihad Etisalat Co. (Mobily).
The telco said in a statement to Tadawul Tuesday that it respects the ruling and will pay the full amount of the judgment once it “receives an order from the competent court for execution of the judgment in accordance with arbitration law.”
The 60 days during which Zain could have tried to invalidate the ruling, expired on Monday.
In November, the arbitration panel ruled that Zain would pay SAR 219.5 million to Mobily.
The dispute between the operators dates back to 2008, when Mobily signed an agreement with Zain Saudi to provide site-sharing and domestic roaming services.
Mobily said Zain Saudi owed it SAR 2.2 billion as of Nov. 30, 2013 for the deal. Zain has previously denied the claims, stating that it only owes SAR 13 million.
Related News
Zain Saudi ordered to pay Mobily SAR 219.5 mln in dispute |
Arbitration panel closes case in Mobily-Zain Saudi dispute |
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