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.
15 July 2010
Sponsor: UBS South Africa (Pty) Ltd