In a press release, Sonangol states that "in the context of the litigation process between the shareholders of Unitel, the Court of Appeal of Paris ruled today in favour of PT Ventures SGPS (PTV), a company fully owned" by the oil company, "the final decision in the annulment process filed by Vidatel Limited, an entity by engineer Isabel dos Santos".
Sonangol recalls that on February 20, 2019, the International Chamber of Commerce (ICC) "had already decided, in favor of the PTV, an indemnity in the amount of US$ 339,400,000 relating to the decrease in the value of the PTV shares in Unitel".
Vidatel's request for the annulment of this decision "was rejected by a court decision of the Paris court and the arbitral tribunal's decision was reiterated, and Vidatel was also ordered to pay 300,000 euros as compensation to the PTV and the respective legal costs of the proceedings," the oil company said.
"This decision by the Paris Court of Appeal confirms the legitimacy of the PTV to enforce the arbitration award in the amount of 339,400,000 dollars against Vidatel," concludes Sonangol.
