UK court orders GTH and Orascom to pay additional USD 7.75 mn in accrued interest in Atheer case

A UK court ordered Global Telecom Holding (GTH) and Orascom Telecom Iraq (OTI) to pay an additional USD 7.75 mn in accrued interest and GBP 1.25 mn in interim legal costs on top of the USD 60 mn they will be paying Atheer Telecom Iraq Limited by 15 March a company press release said. The company will continue to seek an appeal for the decision. The dispute originated from the 2007 sale of Iraqna, OTI’s Iraqi mobile subsidiary, to Atheer, which sought the indemnity for certain tax liabilities.