Telkom will pay US$80m (R604m) to settle its nine-year long legal wrangle with Telcordia Technologies. In 1999, Telcordia signed a contract with Telkom to supply a customer-care solution to SA’s fixed-line business. Telkom terminated the contract two years later, saying the US-based business was in breach of contract by not providing the product to the agreed specifications.
Browsing: Telcordia
Telkom is facing a long and growing list of legal and regulatory challenges that could cost the JSE-listed telecommunications group billions of rand. Chief financial officer Peter Nelson says Telkom wants to put the problems behind it, but has vowed, where necessary, to fight off legal threats against it in court