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Telekom Slovenije to pay 17.6 mln euro in arbitration over buy of 34% of Antenna TV

Telekom Slovenije to pay 17.6 mln euro in arbitration over buy of 34% of Antenna TV hin255/Shutterstock.com

LJUBLJANA (Slovenia), November 4 (SeeNews) – Telekom Slovenije [LJE:TLSG] must pay 17.6 million euro ($19.6 million) with default interest and costs of the arbitration procedure for 34% interest in Antenna TV SL, the telco said on Monday, citing an arbitration court's ruling.

The decision of the Court of Arbitration of the International Chamber of Commerce comes after an arbitration procedure between Telekom Slovenije and European media investment company Antenna Group to determine the purchase fee amount in exercising the put option by Antenna Group for the sale of a 34% share in Antenna TV SL to Telekom Slovenije, the Slovenian telecommunications company said in a filing with the Ljubljana bourse.

“The ruling of the Court of Arbitration is final and binding for both parties,” Telekom Slovenije added.

In 2016, Telekom Slovenije became the holder of 66% of the participating interests in Antenna TV SL.

In 2013, Telekom Slovenije and Antenna Group formed a joint venture to operate a TV channel in Slovenia.

($ = 0.89549 euro)

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