Business / Companies
Econet sues Zimbabwe telecoms regulator for R132 million
14 Jan 2016 at 05:56hrs | Views
ECONET Wireless has approached the High Court seeking an order compelling the Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) to pay over $132 million in damages for losses incurred after the telecommunications firm was ordered to reduce its tariffs in 2014.
Econet has also accused Potraz of making the telecommunication playfield uneven after allegedly failing to order other network providers such as NetOne, TelOne and Telecel to pay license renewal fees in the sum of $137,5 million, which it was allegedly made to pay before being ordered to reduce the tariffs.
In the summons issued by Econet and filed at the High Court last month, the mobile network firm said it was also seeking an order compelling Potraz to order NetOne, TelOne and Telecel, cited as 2nd, 3rd and 4th respondents, to pay license renewal fees in the sum of $137,5 million each.
The telecoms company also wants the court to issue an order restoring the tariffs set out in its (Econet) 2013 license structure and setting aside Potraz's Regulatory Determination 1 of 2014.
Econet has also accused Potraz of making the telecommunication playfield uneven after allegedly failing to order other network providers such as NetOne, TelOne and Telecel to pay license renewal fees in the sum of $137,5 million, which it was allegedly made to pay before being ordered to reduce the tariffs.
The telecoms company also wants the court to issue an order restoring the tariffs set out in its (Econet) 2013 license structure and setting aside Potraz's Regulatory Determination 1 of 2014.
Source - newsday
