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India Tata Comm to pay damages to RCom unit

India Tata Comm to pay damages to RCom unit
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First Published: Tue, Sep 02 2008. 10 06 AM IST
Updated: Tue, Sep 02 2008. 10 06 AM IST
New Delhi: An international tribunal has directed Indian telecoms firm Tata Communications to pay $19 million plus interest in damages to a unit of rival Reliance Communications, the companies said on Monday.
Reliance Globalcom, the international unit of India’s No. 2 mobile operator, said in a statement the International Chambers of Commerce (ICC) had found in its favour over the issue of access to bandwidth through Tata’s Mumbai landing station.
Reliance, which first took the case to the ICC in December 2004, said it would receive $19.3 billion plus interest since May 17, 2006.
Reliance Globalcom said it had upgraded capacity to 80 GB on its Mumbai-London route and would also be enhancing the cable capacity on the Mumbai-Hong Kong route to 80 GB, said the additional capacity had created a revenue opportunity of $120 million to $180 million.
Tata Communications said in a statement the tribunal had handed down a final award dealing with the issue of damages, and said the figure compared with $385 million claimed by Reliance.
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First Published: Tue, Sep 02 2008. 10 06 AM IST
More Topics: Tatacomm | Reliancecomm | mobile | damages | ICC |