Telefonica awarded $380 million from Colombian government in arbitration, company says

Reuters2024-11-13

MADRID (Reuters) - Spanish telecoms company Telefonica said on Wednesday that the World Bank's International Centre for Settlement of Investment Disputes (ICSID) had ordered the Colombian government ...

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The measures violated a bilateral treaty protecting foreign investments signed by the Spain and Colombia, Telefonica said. \n The ICSID did not respond to a request for comment, though its website said the case was closed on Oct. 2 in accordance with its arbitration rules. \n A spokesperson at the Colombian finance ministry confirmed the arbitration. \n In July, Telefonica, which has already divested from many markets in Latin America, said it started talks with New York-listed Millicom to sell its stake in its Colombian unit for $400 million. \n (Reporting by Inti Landauro, editing by Aislinn Laing)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483835636"}