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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.

BT Online Bureau | February 22, 2012 | Updated 23:21 IST

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.

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