Warid and Huawei have resolved the deadlock on most of the monetary issues in a high level meeting held in Beijing on late Friday, claimed Telecom Recorder, citing sources close to the situation.
Following is the excerpt from story produced at Telecom Recorder!
The Chinese telecom infrastructure, Huawei, will withdraw its legal petition submitted in Lahore High Court, Rawalpindi Bench, recently against Warid as part of the negotiations finalized by the both parties on the agreed payment reschedule.
The major development was made as the top-brass of Abu Dhabi group met President Huawei in his headquarter, spokesmen of the Huawei and Warid confirmed Telecom Recorder.
The Hauwei officials in Pakistan will likely to withdraw case against Warid before its first hearing scheduled to he held on October 26.
The partners will also make it public on settlement of issues in media to compensate the damages occurred on the reputation of both companies subsequently legal battle was aggressively pursued by Huawei.
In this regard, press statement and public notices will be printed in the leading newspapers once the petition withdrawal process is completed. All issues between the two parties are expected to be resolved amicably in this week.
Pakistan Telecom Observer adds
Sources close to Huawei have disclosed that decision of going into court against mere 100 million dollar was taken solely by some individuals based in Pakistan and Middle East Legal Departments, while top management was not fully endorsed, Pakistan Telecom Observer, an independent group of telecom experts said.
It is also learned that rewarding the blue-eyed lawyer of Huawei could be a reason of filing of petition. Source said that the lawyer was paid as high as PKR 20 Million in cash for the case.
Moreover, our sources in Warid informed that Huawei transmits just 7 Percent of Warid’s total traffic. Hence Huawei’s appeal for liquidating the company, worth multi billion dollar, for paying just 100 million is considered as over re-action to damage the reputation of Warid.
Earlier, Huawei Technologies Pakistan Pvt Limited on 23 August 2010 instituted three petitions in the Lahore High Court, Rawalpindi Bench, for the winding up of Warid Telecom (Pvt.) Ltd, one of the five cellular operators in Pakistan.
The petitions have been filed only after repeated assurances by Warid that the outstanding and admitted liabilities would be repaid.
As interim measures the Huawei companies sought stay orders against Warid from disposing off its assets and the transfer of shares. The court was pleased to grant such orders. It has also directed Warid to submit its monthly statement of income and expenses. Huawei is seeking the appointment of a provisional manager while the petitions are pending.
It has been pleaded that Warid, admittedly, owes the three Huawei companies a sum far exceeding US $ 100,000,000 (US Dollars One Hundred Million) equivalent to a sum exceeding Pak Rupees 10,000,000,000.00(Pak Rupees Ten Billion).
Recently filed petition against Warid Telecom of Pakistan has caused Huawei serious reputation damage as mobile networks are going to get more conscious before contracting Chinese top network vendor.
Civil Society also showed the serious concerns over legal action from Huawei by saying it an unwanted, unnecessary and harsh step from Huawei and suggests both multi-national companies to resolve the issue outside the court.
“The company responsible for the situation must act immediately to control damage otherwise it may hurt its interests in many countries” Warned a local economy-focused think-tank.
Earlier, the Chairman of Dhabi Group and Warid Telecom also wrote a very positive and polite letter to the President of Huawei on the 12th of June this year which shows Warid’s intention of reaching a peaceful solution regarding this matter. But Huawei ignored the letter and filed a petition in the Lahore High Court, Rawalpindi bench with the subject; “Winding up Warid Telecom Ltd”.
Warid to Back Again With New Products
In last couple of weeks, Warid’s advertisement volume was witnessed thin on television screen. The UAE-based cellular operator was quite behind to introduce their aggressive services campaign on media.
However, it is hoped that Warid with its brand “Glow” will once again bombard a new product campaign in next couple of days, which will also remove trust deficit of its more than 18 million concern customers.
Via Telecom Recorder