{"id":29805,"date":"2013-01-14T16:03:42","date_gmt":"2013-01-14T14:03:42","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=29805"},"modified":"2013-01-14T16:29:15","modified_gmt":"2013-01-14T14:29:15","slug":"blue-label-arbitration-postponed","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/29805\/blue-label-arbitration-postponed\/","title":{"rendered":"Blue Label arbitration postponed"},"content":{"rendered":"<p><a title=\"Blue Label Telecoms\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2998-Blue-Label-Telecoms\">Blue Label Telecoms<\/a>, a JSE-listed telecoms group and distributor of prepaid secure electronic tokens, says that its $481 million (R4.18 billion) arbitration with <a title=\"Telkom\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1637-Telkom\">Telkom<\/a>&#8216;s former Nigerian subsidiary, Multi-Links, has been postponed.<\/p>\n<p>It follows the cancellation of a 10-year contract between the two companies by Multi-Links in 2010, which led Blue Label to announce the termination of its business ventures in Nigeria, of which the Multi-Links contract was a significant contributor.<\/p>\n<p>Blue Label started proceeding to claim $481 million in lost profits from the Nigerian operation.<\/p>\n<p>Blue Label, which owns 36.72% in Africa Prepaid Services Nigeria through its 72% stake in African Prepaid Services, noted that an agreement between the companies was cancelled by Multi-Links after Telkom announced plans to exit the CDMA business in Nigeria.<\/p>\n<p>Telkom subsequently sold off Multi-Links in 2011 for as little as $10 million, having incurred billions in losses over the period of ownership.<\/p>\n<p>The arbitration was set down for hearing from 4 November until 15 December 2012.<\/p>\n<p>\u201cThe arbitration was postponed as a result of an amendment introduced by Multi-links on the eve of the commencement of the arbitration,\u201d Blue Label\u2019s <a title=\"Michael Campbell\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/6810-Michael-Campbell\">Michael Campbell<\/a> told BusinessTech.<\/p>\n<p>\u201cDates for the continuation of the arbitration are currently under discussion between the parties and the arbitration tribunal,\u201d he said.<\/p>\n<p>Multi-Links lodged a counter-claim for $123 million citing a number of contractual breaches by APSN.<\/p>\n<h3 class=\"my-4\">More on Blue Label<\/h3>\n<p><a title=\"Blue Label forks out $6.1m for Mexican subsidiary\" href=\"http:\/\/businesstech.co.za\/news\/telecommunications\/22148\/blue-label-forks-out-6-1m-for-mexican-subsidiary\/\"><strong>Blue Label forks out $6.1m for Mexican subsidiary<\/strong><\/a><\/p>\n<p><strong><a title=\"Blue Label ups profit, lifts dividend\" href=\"http:\/\/businesstech.co.za\/news\/general\/20372\/blue-label-ups-profit-lifts-dividend\/\">Blue Label ups profit, lifts dividend<\/a><\/strong><\/p>\n<p><a title=\"Blue Label ups profit, lifts dividend\" href=\"http:\/\/businesstech.co.za\/news\/general\/20372\/blue-label-ups-profit-lifts-dividend\/\"><strong>Blue Label ups profit, lifts dividend<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blue Label Telecoms says that its $481 million (R4.18 billion) arbitration with Telkom&#8217;s former Nigerian subsidiary, Multi-Links has been postponed.<\/p>\n","protected":false},"author":9,"featured_media":5652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[1382,26,4990,65],"class_list":["post-29805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-blue-label-telecoms","tag-headline","tag-mult-links","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29805","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=29805"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29805\/revisions"}],"predecessor-version":[{"id":29814,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/29805\/revisions\/29814"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/5652"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=29805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=29805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=29805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}