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First hearing of Zain, Mobily arbitration Saturday

First hearing of Zain, Mobily arbitration Saturday
ETIHAD ETISALAT
7020
3.58% 47.75 1.65
ZAIN KSA
7030
0.14% 13.82 0.02
Etihad Etisalat (Mobily) announced, in a statement to the stock market that, further to its announcement published on Tadawul on December 2 regarding Mobily due receivable amounts resulted from the Service Agreement signed with Zain KSA , the arbitration panel has been officially established from two arbitrators from Mobily and Zain KSA together with a third arbitrator (the umpire) agreed between the two appointed arbitrators.
Zain KSA also said the two arbitrators appointed by the parties held a meeting and appointed a third arbitrator, with whom an agreement has been reached. With this appointment, the arbitration panel is fully formed.
The first hearing is scheduled for Saturday 21/2/1436 (13/12/2014), and during which the procedures that the arbitration panel will follow and the duration of arbitration will be agreed, according to the company’s statement.