Business
Wireless wars Africa: Econet sues Bharti Airtel for $3.1 billion
Wednesday, February 22, 2012
“The above estimated damages might also be in addition to a claim for US$100 million received by the applicant as fees for the management of VNL (Vee Networks Limited, a former name of Airtel) for a period of six years, which sum should have accrued.”
Bharti’s spokesman said the Econet stake had not been cancelled but had been set aside pending final resolution of litigation on the matter.
Nigeria contributes about 9.5 percent to Bharti’s consolidated operational profits, the company says.
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