Brief: Court Orders Portuguese State To Pay 23.6 Mln Euros To CTT Correios de Portugal

CTT - Correios de Portugal SA

02/10/2023 06:40

Oct 2 (Reuters) - CTT Correios de Portugal SA  CTT.LS :
    * SAID ON SUNDAY, WAS NOTIFIED OF DECISION OF ARBITRATION
COURT TO
ORDER PORTUGUESE STATE TO PAY CTT TOTAL AMOUNT OF 23.6 MILLION
EUROS REGARDING PROCEEDINGS INITIATED BY CTT IN JUNE 2021
    * AS FOR IMPACT OF COVID-19 PANDEMIC, PORTUGUESE STATE IS TO
PAY
6.8 MILLION EUROS TO COVER "LOSSES ACTUALLY SUFFERED BY CTT" IN
YEAR 2020
    * CONCERNING UNILATERAL EXTENSION OF CONCESSION AGREEMENT,
COURT
ORDERED THE STATE TO RESTORE BALANCE FOR 2021 BY PAYING AMOUNT
OF 16.8 MILLION EUROS
    * ACCRUED INTEREST TO THE TOTAL AMOUNT WILL BE DETERMINED BY
THE
COURT AFTER HEARING THE PARTIES

        
 Source text: https://tinyurl.com/yssbx7vn
 Further company coverage:  CTT.LS  

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