By Ahmed Awad:
Kuwait-Mubasher: Zain Iraq announced on Thursday that Iraqi Court of Cassation ruled that the Communications and Media Commission of Iraq (CMC) has no right to claim any compensation from the company and confirmed that Zain has a clear legal position.
Zain Kuwait announced in a statement Wednesday to the Kuwait Stock Exchange (KSE) that it received on Tuesday the decision in its favor from the CMA appeal board regarding its appeal against CMC which is issued in its favor.
Zain explained that the Iraqi Court of Cassation issued on December 14, 2014 its decision on the appeal submitted by the Company on November 26, 2014 and it is totally in its favor.
The Company added that Court of Cassation overturned a ruling issued by Court of Appeal and turned the case back to Court of Appeal to act according to the decision by Court of Cassation.
Translated by: Julian Nabil
Photo Credit: Arabianeye-Reuters
Kuwait-Mubasher: Zain Iraq announced on Thursday that Iraqi Court of Cassation ruled that the Communications and Media Commission of Iraq (CMC) has no right to claim any compensation from the company and confirmed that Zain has a clear legal position.
Zain Kuwait announced in a statement Wednesday to the Kuwait Stock Exchange (KSE) that it received on Tuesday the decision in its favor from the CMA appeal board regarding its appeal against CMC which is issued in its favor.
Zain explained that the Iraqi Court of Cassation issued on December 14, 2014 its decision on the appeal submitted by the Company on November 26, 2014 and it is totally in its favor.
The Company added that Court of Cassation overturned a ruling issued by Court of Appeal and turned the case back to Court of Appeal to act according to the decision by Court of Cassation.
Translated by: Julian Nabil
Photo Credit: Arabianeye-Reuters
Source:
Mubasher Exclusive
