Libya: Libya sues Zambia over network
20.03.2012
Libya's investment authority says it is suing Zambia's government for seizing its controlling share in a mobile phone network. A Libyan telecommunications enterprise that owns 75 per cent of the Zamtel network says the seizure last year by the government of newly elected President Michael Sata was 'illegal and unconstitutional'. The investment authority said in a statement that the network filed demands at the Zambia High Court for $480-million worth of compensation in asset value along with unspecified additional payouts for operating losses should the business not be handed back.