Telkom facing massive damages payout

[rpm]

http://mybroadband.co.za/news/Telecoms/1256.html

 

[Freshy-ZN]

Bloody Marvelous!

 

[aadil-old]

At the end of the day, all they'll do is pass those costs onto us, the consumers.

Actually, they probably already have if you consider that they've budgeted 70 million excluding legal fees.

 

[NameOfBeast]

Couldn't have happened to a nicer company.

 

[AirWolf]

Great that they are getting what they deserve, but Aadil makes a good point, unfortunately.

 

[Moederloos]

Telkom has argued that it terminated the deal on the grounds that the system it was being sold did not include all the features it wanted and were not of the promised quality.

Sounds a lot like us and Telkom's inferior products....

 

[chiskop]

Couldn't have happened to a nicer company.

I can think of plenty nicer companies that it could've happened to. Luckily, it was Telkom.

 

[CellBel]

What goes around comes around.

 

[Glordit]

HA HA HA HA HA!
*Cry's with joy!*
I was waiting for this! I suppose this has to do with telkom selling out to MTN & Vodacom ??

 

[NameOfBeast]

I can think of plenty nicer companies that it could've happened to. Luckily, it was Telkom.

Yah, ones that make special harpoons for baby whales, or clubs for seals....

 

[antowan]

ROFL! Somebody in Telkom's legal department is going to get a good talking to.

 

[DraK]

Idiots!!! Serves them right me thinks...

If you back out of a deal that large you make sure of all the little facts. Is this going to be there excuse for the next couple of years and the lack of rolling out services, and price increases? worried about that though..

 

[BTTB]

At the end of the day, all they'll do is pass those costs onto us, the consumers.

Actually, they probably already have if you consider that they've budgeted 70 million excluding legal fees.

Agreed.
Petty Cash if you look at the bigger picture.

One more judgement against the incumbent which may pave the way for other claims of a similar nature we are not aware of? There are usually reasons why a Company will continue with litigation until the last resort and not settle.

Telcordia Technologies Inc v Telkom SA Ltd
66 Pages - Judgment date: 22 November 2006

 

[Sneeky]

The fine must be HUGE, no matter if this is passed on to consumers.

The fact that TELKOM have exhausted all possible legal avenues in trying to avoid coughing up and LOST is a massive victory in itself.

To hell with TELKOM.

 

[Juice]

If the arbitrator awards an amount of more than 70-million, it is expected to have an effect, but Telkom does not expect the effect to be a materially adverse one.

Must be nice to have SO much money that a multi-million rand liability claim against you will not have a materially adverse effect...

Die Telkom, die!!

 

[LabAnimal]

Not so Mighty afterall Telscum!.

I can just see the prices going up again... I would so rather go without DSL for a wile till there's something else...

 

[mancombseepgood]

Let's hope they get hit as hard as is possible with no option for paying it off over time - nail them solidly with a single cash payment.
Make those stocks tumble!

 

[mcleodd]

I'm not sure why the Sunday Times is running this story now. It says nothing new. All this news is several months old. Odd.

 

[R4tt3xx]

We, Telkom's customers are going to pay this fine weather we like it or not. Thats the sad truth.

 

[Conspirator]

Maybe I'm missing something here, but: Telcordia Technologies is a foreign company, so that's 70mil flowing out of the country and SA is not getting the right technology in return. It's certainly not going to hit the Government or the Top Jokers at Telkom, so I don't see why you okes are so happy with this...