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VSNL appeals against FLAG gateway ruling
Indian telecoms service provider Videsh Sanchar Nigam Ltd. or VSNL said on Friday it had appealed a ruling that Reliance Communication Ventures Ltd. could use its international communications gateway in Mumbai, reports Reuters.
Indian telecoms service provider Videsh Sanchar Nigam Ltd. or VSNL said on Friday it had appealed a ruling that Reliance Communication Ventures Ltd. could use its international communications gateway in Mumbai, reports Reuters.
VSNL, owned by the Tata group, on Thursday filed a writ petition in the Netherlands against a May 26 ruling of the International Chamber of Commerce, ICC, Arbitration Tribunal in favour of Reliance Communication's global bandwidth unit, FLAG Telecom.
"VSNL was, and remains, disappointed that the tribunal decided to reject what VSNL had understood to be the effect of the C&MA (construction and maintenance agreement)," a statement from VSNL said.FLAG Telecom had petitioned the ICC in December 2004 seeking access to VSNL's landing stations.
VSNL said it would continue to comply with the terms of the award, until it may be set aside.Shares in VSNL rose nearly 1% to Rs 424.70 in a slightly firm Mumbai market, while shares in Reliance Communication were up 3.5% at Rs 312.
Reliance Communication, India's top CDMA-based mobile services provider, said on Friday it has sought the rival GSM spectrum from the government for future expansion.
VSNL said it would continue to comply with the terms of the award, until it may be set aside.Shares in VSNL rose nearly 1% to Rs 424.70 in a slightly firm Mumbai market, while shares in Reliance Communication were up 3.5% at Rs 312.
