By Matt Smith and Maha El Dahan DUBAI (Reuters) - An Iraqi court has rejected a .5 billion lawsuit against Zain over its 2007 acquisition of an Iraqi telecom operator, dismissing the applicants' right to appeal, the Kuwaiti group said on Sunday. In a separate judgment, a court also fined Zain unit Zain Iraq $100 million for using a range of mobile phone numbers without the telecom regulator?s permission, although the operator can still appeal against this penalty. In reference to the .5 billion court case, Zain bought Iraqna for $1.2 billion from Orascom Telecom in December 2007 after the Egyptian company dropped out of the running for a long-term mobile licence in Iraq. Zain mounted its own appeal to a higher court, which subsequently instructed the lower court to reconsider its verdict.
03-17-2015, 06:17 AM
Iraqi court dismisses $4.5 bln claim against Zain, says verdict final
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