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General

Court dismisses Millicom attempt to block Telefonica Costa Rica claim

Thursday 14 January 2021 | 12:10 CET | News
A New York court has dismissed a request by Millicom to block legal proceedings initiated by Telefonica over the sale of the latter's mobile telecommunications assets in Costa Rica, reports Bloomberg. "The motion to dismiss is denied in its entirety," said judge Andrew Borrok after raising concerns about Millicom's assessment of its obligation to buy Movistar Costa Rica. Millicom pulled out of a deal to acquire the unit for USD 570 million last April, paving the way for legal action from the Spanish operator.

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Categories: General
Companies: Millicom / Movistar / Movistar Costa Rica / Telefonica
Countries: Costa Rica
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