webfact Posted January 10, 2019 Share Posted January 10, 2019 Telenor's Thailand unit to pay nearly $300 million in legal disputes FILE photo OSLO (Reuters) - Thailand's Total Access Communication (DTAC) <DTAC.BK>, a subsidiary of Norwegian telecoms firm Telenor <TEL.OL>, has agreed to pay close to $300 million to settle legal disputes with CAT Telecom Public Co Ltd, Telenor said on Thursday. "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," Telenor said. "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," it added. The total settlement amounts to 9.51 billion Thai baht ($298 million). The two issues not included in the settlement are industry cases related to revenue sharing concerning excise tax and interconnection charges, and both have been previously disclosed, Telenor said. While the Norwegian firm had previously made provisions amounting to about 400 million Norwegian crowns ($47.22 million), it will book the remaining cost of 2.1 billion crowns in its fourth-quarter accounts, it added. Telenor has about 173 million mobile phone customers in eight countries across Europe and Asia. (Reporting by Terje Solsvik, Editing by Sherry Jacob-Phillips) -- © Copyright Reuters 2019-01-10 Link to comment Share on other sites More sharing options...
dickjones2018 Posted January 11, 2019 Share Posted January 11, 2019 billions here, billions there..maybe one day people will find out being stuck to their phone 24/7 is as healthy as eating 7/11 food warmed in a microwave Link to comment Share on other sites More sharing options...
natway09 Posted January 11, 2019 Share Posted January 11, 2019 This is the "encouragement" Thailand exudes to the world to come & start a business here ? Link to comment Share on other sites More sharing options...
balo Posted January 11, 2019 Share Posted January 11, 2019 It's difficult to for a foreign corporation to run a legal business in Thailand, a lot of money changing hands to middle men . But they can afford to pay for the best lawyers and make sure they have a watertight contract , even in Thailand. There's been many legal disputes over the years Link to comment Share on other sites More sharing options...
the guest Posted January 11, 2019 Share Posted January 11, 2019 Advise for foreign companies, give Thailand a wide-berth, too much hassle. Link to comment Share on other sites More sharing options...
janclaes47 Posted January 11, 2019 Share Posted January 11, 2019 9.510.000.000 Baht. Telenor should have asked advice from their Danish neighbor Carlsberg before they started a business in Thailand Link to comment Share on other sites More sharing options...
holy cow cm Posted January 11, 2019 Share Posted January 11, 2019 Dtac made billions in revenue. $300 million drop in the bucket Link to comment Share on other sites More sharing options...
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