Vodafone calls local partner’s EUR1.4bn lawsuit ‘fanciful’

22 Apr 2014

Vodafone Greece spokesperson Simon Gordon has confirmed that the local Papistas Group has made legal claims worth EUR1.37 billion (USD1.89 billion) following the UK-owned cellco’s termination of a long-standing commercial relationship, but said that the claims are ‘without merit’ and called the alleged losses ‘completely fanciful’, adding that Vodafone will be ‘defending them vigorously.’ Bloomberg writes that Vodafone is being sued for a second time by Mobile Trade Stores, part of Papistas Holding, for damages the company said it suffered when Vodafone cancelled franchise agreements, following a similar EUR255.5 million suit filed in December 2013. Papistas, founded by Athanasios Papistas and Loukia Florou, said that after 2008 Vodafone changed its strategy in Greece, unexpectedly terminating a maintenance services contract and loan contracts, which damaged the liquidity of other companies within the Papistas Group.

Greece, Vodafone Greece