Econet seeks $3.1 bn damages from Bharti

South Africa-based Econet Wireless has sought $3.1 billion in damages from Bharti Airtel over an ownership dispute at the Indian group's subsidiary Airtel Nigeria, reports said.

The move follows a Nigerian court ruling that Bharti Airtel's ownership of Airtel Nigeria is "null and void" because co-founder and 5 per cent shareholder Econet was not consulted on the transfer, reports said.

Bharti inherited the legal case as part of its acquisition of Zain's African operations in 2010.