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Saudi Zain-Mobily arbitration delayed

Saudi Zain-Mobily arbitration delayed
ETIHAD ETISALAT
7020
10.16% 52.60 4.85
ZAIN KSA
7030
-8.83% 12.60 -1.22
Saudi Mobile Telecommunications Co. (Saudi Zain) said, with reference to the arbitration process in the dispute with Mobily, that it has received from the Chair of the arbitration panel the minutes of the first session held by the panel, according to a bourse statement.
The minutes included the resolution of the panel to postpone the session that was scheduled for Saturday, Dec. 13, 2014, in order to enable the parties in the dispute to agree, by Monday, Dec. 15, 2014, at the latest, on the location at which the arbitration will take place.
If the parties do not agree on the location, the arbitration panel will meet on Tuesday, Dec. 16, 2014, to issue a decision in this regard.
The minutes of the meeting also included the panel decision to schedule a session, to be attended by the parties, on Saturday, Dec. 20, 2014, so Mobily can submit a written statement of its claim, and in which the procedures that the arbitration panel shall follow will be determined.
Photo Credit: Arabianeye-Reuters