Vodafone hit with 250 million euro lawsuit in Greece for contract breach
December 17, 2013, 12:08 am TWN
Reuters--Vodafone has been served with a 250 million euro (US$343.26 million) lawsuit for allegedly breaching its contracts and causing harm to a Greek retail partner, the Financial Times reported late on Sunday.
The FT, citing claims it had seen, said that Vodafone Greece last week received details of the civil lawsuit from MTS, a local telecoms retailer that sold Vodafone contracts and services in the country.
MTS, in which the British telecoms group owns a 40 percent stake, claimed that Vodafone restricted its ability to operate through the cancellation of a loan restructuring and the termination of a co-operation agreement involving maintenance services and loan contracts, the Financial Times said.
MTS also claimed that it was prevented from listing on the Athens stock exchange by Vodafone, which exploited its economic dependence on the British group.
MTS and Vodafone could not be reached for further comment outside of regular business hours.