Lebanese telecoms company Spectrum has regained 50% ownership of leading mobile operator Gamcel, according to local reports.
The government had prematurely terminated Spectrum’s contract, but the parties have reportedly finally settled the matter in…
Lebanese telecoms company Spectrum has regained 50% ownership of leading mobile operator Gamcel, according to local reports.
The government had prematurely terminated Spectrum’s contract, but the parties have reportedly finally settled the matter in order to avoid legal proceedings.
In November 2008, the authorities cancelled a partnership under which the two each owned 50% of Gamtel and its mobile unit Gamcel. The government said its decision was the result of fundamental breaches of the partnership agreement and the company’s underperformance.
Spectrum acquired 50% of Gamtel and its mobile arm Gamcel from the government in September 2007.
