International Arbitration Panel Decision Supports Batelco's Request for Reduced TRA Fine
Manama, Bahrain: Batelco Group (Ticker: BATELCO), the regional telecommunications operator of reference with operations across six countries, announced today that the dispute with the Bahrain Telecommunications Regulatory Authority (TRA) since November 2009 relating to access to international cable facilities, has been resolved through an arbitration process involving an eminent panel of international legal experts.
Group CEO Shaikh Mohamed bin Isa Al Khalifa announced that the fine imposed on Batelco by the TRA in 2009 has been reduced to BD750,000 from BD5.238M following a lengthy arbitration process involving legal and regulatory experts. The Arbitration Panel announced their detailed decision in a lengthy statement sent to Batelco and the TRA on 30 October 2012..
"We are pleased that this matter has been finally resolved through an independent international arbitration panel and in a transparent manner where all parties involved presented their arguments. The fact that the fine has been reduced supports Batelco's original position that such a breach should not have attracted a punitive fine as originally imposed by the TRA," Shaikh Mohamed said.
"This is the first ever arbitration case carried out in Bahrain under the Telecommunications Law which has reached a conclusion. The lengthy proceedings helped to clarify a number of procedural and substantial aspects of the arbitration process which should pave the way for more streamlined arbitration proceedings in the future. The proceedings raised the standard of accountability and transparency in decision making for the Telecommunications Regulatory Authority, which is of benefit to the telecommunications sector and the Kingdom as a whole," stated Shaikh Mohamed.
"Batelco now looks forward to continue working closely with the TRA to ensure the Kingdom's infrastructure retains its global competitiveness and continues to enable the economic growth and development of Bahrain," concluded Shaikh Mohamed.Back