TKG - Telkom SA Limited - Finalisation of Telcordia dispute
TKG
TKG
TKG - Telkom SA Limited - Finalisation of Telcordia dispute
Telkom SA Limited
Registration Number 1991/005476/06)
ISIN ZAE000044897
JSE Share Code TKG
("Telkom")
Finalisation of Telcordia dispute
The arbitration proceedings instituted by Telcordia against Telkom in 2001 in a
dispute relating to the supply, installation, integration of a new customer care
management system for Telkom by Telcordia have been finalised. Telcordia`s
claims in the total amount of US$128 148 705, plus interest thereon were finally
settled in terms of a mutual agreement based on an arbitration ruling, and
concluded on 13 July 2010, in terms of which Telkom is paying the amount of
US$80million. At 31 March 2010 an amount of US$77 million had been provided in
the financial accounts of Telkom for this dispute. This settlement follows on
lengthy arbitration proceedings during the course of which two partial awards
were made by the arbitrator.
Pretoria
15 July 2010
Sponsor: UBS
Date: 15/07/2010 14:00:03 Produced by the JSE SENS Department.
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