From Investing.com: 2024-11-13 16:37:45

The World Bank’s ICSID orders Colombia to pay Telefonica $380 million in arbitration over measures violating a bilateral treaty. Telefonica will also receive legal fees and compound interest at 5%. The case closed on Oct. 2, with Colombia considering an appeal with legal assistance.

Telefonica opposed Colombian government measures in 2017, leading to the arbitration process. The ICSID’s decision is being examined by Colombia’s legal defense agency for potential appeal. Telefonica had started talks with Millicom to sell its Colombian unit for $400 million in July.



Read more at Investing.com: Telefonica awarded $380 million from Colombian government in arbitration, company says By Reuters