UPDATE 1-Vodacom challenges 2G network suspension in Congo court [Reuters]
VODACOM GROUP LTD S/ADR (VDMCY)
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Source: Reuters
UPDATE 1-Vodacom challenges 2G network suspension in Congo court - Reuters 2 Min Read (Adds Vodacom statement) DAKAR, June 12 (Reuters) - Vodacom Group’s local unit in the Democratic Republic of Congo has filed a lawsuit against the revocation of its 2G telecoms license, the country’s telecommunications minister said on Wednesday. The ministry withdrew the license in April, saying in a written order that its renewal in 2015 for $16 million did not follow proper procedures. The ministry says the actual cost of renewing the license is $65 million. Vodacom, which holds a 51% stake in Vodacom Congo, said in a statement that “it is in ongoing discussions with all the relevant authorities to resolve this unfortunate situation.” “Vodacom Congo followed a legally prescribed process when its 2G licence was extended in 2015 and duly complied with all applicable laws and regulations,” it said. A hearing on Vodacom’s challenge of the suspension took place on Monday before the Council of State, wh
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