Fixed-line phone operator Telkom has lost a bid to overturn a ruling against it in a $130m dispute with US software and IT firm Telcordia, Telkom said on Wednesday.
Telkom said in a statement it expected to start arbitration with Telcordia Technologies in September to determine how much it would have to pay in compensation.
Telcordia is seeking $130m in damages in the dispute over a cancelled contract, Telkom said in November, arguing a fairer price was around $50m.
Read more at FIN24.co.za
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