“The lawsuit is old and dates back to before 2006,” al- Barrak said, according to the newspaper.
Econet has lost similar lawsuits filed against Zain in British courts over four years
Econet disputes the ownership of Zain’s Celtel Nigeria and said it sought arbitration measures to prohibit the unit’s sale or transfer. Econet is looking to overturn a 2006 deal in which Celtel bought a 65 percent stake in Nigerian mobile operator Vmobile, since renamed Zain Nigeria.
Econet, which owns 5 percent of Zain Nigeria, says it should have been given the opportunity to buy the shares first.