Telecom network operator Bharti Airtel International has settled litigations with Zain Telecom and Econet Wireless.
Bharti Airtel International (Netherlands) today said it will receive approx. $129 million from Zain for the settlement of Airtel’s claims on account of the Nigeria Litigation, tax matters and associated legal costs.
Under the terms of the 2010 Share Sale/Purchase Agreement, Zain had provided Airtel certain indemnities covering the Nigeria Litigation and for certain tax claims.
Airtel has also reached a settlement agreement with Econet Wireless settling all claims, disputes whatsoever, between the two including in Nigeria and Netherlands.
With these settlements, Bharti Airtel has closed several ongoing major litigations in Nigeria, UK and Netherlands.
