Further to our statement issued on the morning of 30th January 2012, in which we announced that Econet Wireless was issued a judgment in its favour by the Federal High Court of Nigeria, Econet Wireless would like to offer the following update:
The judgment of the Federal High Court of Nigeria was issued on the morning of 24th January 2012. The Judge, Hon Schaib, read the ruling out in an open court, in the attendance of lawyers and representatives of the applicant and defendants. All were present as required by the law, having been duly notified in advance that the judge would be handing down judgement in the matter.
No written copy of the judgment was released by the judge, but he promised to have the full written copy, published within two weeks. It is our intention to publish the full copy of the judgement on our website and in the media in order that everyone can see the matters for determination and ascertain for themselves, the prospects of success of any appeal, as the case may be.
Meanwhile, following the judgement, lawyers for the defendant, now Bharti Airtel, immediately rushed to file a 'Notice of Appeal' as well as separately an 'Application for stay of execution, of Execution of The judgement' pending an appeal hearing and determination. This is their prerogative, which we respect.
In the 'Application for a stay', Bharti Airtel, through their lawyers have given a detailed outline of what they consider to be the potential impact of this ruling. This document is a public document and may be obtained from the Nigerian courts. However for ease of reference, Econet Wireless hereby publishes the full document from Bharti Airtel Nigeria, as it was served on our lawyers, on Friday evening, and brought to our attention yesterday. Your attention is drawn most specifically, to the grounds of Bharti's Appeal and what they perceive to be the impact of the judgment. Econet Wireless has also noted the statement, issued by Bharti to the media addressing the same issue.
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