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10/01-2019 06:45:23: (TEL) dtac and CAT sign dispute settlement agreement

Telenor’s subsidiary in Thailand, dtac, has today reached an agreement to settle
legal disputes with CAT Telecom Public Company Limited (“CAT”). According to
this agreement, dtac will pay a total amount of THB 9.51 bn (around NOK 2.5 bn)
to CAT. The settlement is subject to approval from dtac’s Annual General Meeting
in 2019.

Over the 27 year concession period, dtac and CAT have been engaged in numerous
litigation cases, mostly over differences in interpretation of the concession
agreement. The most significant of these disputes have been disclosed in
Telenor’s annual reports since 2014.  Today’s settlement will close all, except
two, issues between dtac and CAT, and will also bar the parties from bringing
new claims pertaining to the concession regime. The two issues not included in
the overall settlement with CAT are two industry cases related to revenue
sharing concerning excise tax and interconnection charges, both disclosed in the
annual report 2017. 

Telenor has previously made provisions of around NOK 0.4 bn for some of the
disputes which are now included in the settlement between dtac and CAT. The
remaining amount of around NOK 2.1 bn will be provided for in Q4 2018 as “Other
income and expenses”. 

dtac’s payment to CAT will be made in installments. The first installment of THB
6.8 bn (around NOK 1.8 bn) will be made once the final approval from the Annual
General Meeting is obtained. The remaining THB 2.7 bn (around NOK 0.7 bn) will
be made in smaller installments as the various court cases are withdrawn from
the

Ekstern link: https://newsweb.oslobors.no/message/467278

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