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Wireless

Claro loses Comcel case in Colombia, continues challenge

Monday 10 May 2021 | 08:51 CET | News
Claro (America Movil) has issued a statement confirming that the World Bank's International Centre for Settlement of Investment Disputes (ICSID) has ruled against the company in an arbitration initiated back in August 2016 against the Colombian government. The ICSID tribunal ruled that measures taken by Colombia's government in 2013 did not represent an expropriation of Claro's investments in its subsidiary (Comcel) or a breach of the Free Trade Agreement between Mexico and Colombia, ordering the company to pay USD 2.2 million to cover the costs of the case.

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Categories: Mobile & Wireless
Companies: America Movil / Claro Colombia / Comcel
Countries: Colombia
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