Vodafone Greece presented with USD343m lawsuit by retailer

16 Dec 2013

Vodafone Greece has been served with a EUR250 million (USD343 million) civil lawsuit which alleges the UK-owned cellco breached contracts and caused harm to a former Greek telecoms retailer partner, the Financial Times reports. Local businessman Athanasios Papistas’ company MTS was a franchise operator for Vodafone in its retail stores in Athens and the north of the country where it ran 67 Vodafone-branded stores up to 2011 during an eleven-year partnership with the British-backed firm, which owned a 40% stake in the retailer. MTS claims that Vodafone restricted its ability to operate through the cancellation of a loan restructuring and the termination of a cooperation agreement, and alleges that Vodafone’s motivation was to obtain the assets of the business at a low value, while Mr Papistas also claims that Vodafone prevented him from selling his 60% stake in the business to a third party. The claim has been filed to a Greek court of first instance, and a hearing is scheduled for April 2016. A statement from Vodafone said: ‘The claims are without merit and the purported losses completely fanciful. Vodafone will be defending them vigorously.’

Greece, Vodafone Greece