Telefónica wins lawsuit against Millicom for cancelling purchase of Costa Rican subsidiary

TelefónicaJosé María Álvarez-Pallete, Executive Chairman of Telefónica

A New York court has ruled in favour of Telefónica in its lawsuit against Millicom International Cellular for refusing in 2020 to honour the agreement to buy the telecommunications company’s subsidiary in Costa Rica for $70 million (around €530 million at current exchange rates).

Although the ruling does not specify the amount to be paid in compensation by the telephone operator, which refused to make the purchase despite having agreed to do so the previous year, the newspaper ‘Expansión’ reports that it would amount to around $140 million (€130 million).

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