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General

Telefonica files complaint to ICSID over Colombia fine

Thursday 22 February 2018 | 15:42 CET | News
Telefonica has filed an arbitration complaint with the World Bank's International Centre for Settlement of Investment Disputes (ICSID) against the Colombian arbitration fine for breaching a government contract for mobile services. In June 2017 a Colombian arbitration panel said Telefonica's Coltel subsidiary and America Movil unit Comcel had failed to return installed telecommunication networks and infrastructure as part of agreements to provide mobile services dating back to 1994. Claro was ordered to pay USD 1.02 billion, with Telefonica having to pay USD 529.1 million.

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Categories: General
Companies: America Movil / Comcel / Movistar Colombia / Telefonica
Countries: Colombia
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