Court rejects Telefónica's lawsuit against govt

- Friday, September 16, 2011

Court rejects Telefónica's lawsuit against govt

Santiago's court of appeals has dismissed, in a second instance, a lawsuit filed in 2002 by the Chilean unit of Spanish giant Telefónica (NYSE: TEF) against Chile's government for alleged damages due to what the operator says were errors in telephony rate calculations between 1999 and 2004.

Telefónica was requesting an indemnity of US$200mn.

According to the resolution, the arguments were dismissed since there were no mathematical errors, and the ruling in the first instance does not violate the law.

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Regarding the second issue included in the lawsuit - related to the costs of editing, printing and distributing phone books - the court determined the arguments do not give rise to a trial to request indemnity.

Use this link to see the full text of the ruling, in Spanish.