Brief: CTT Initiates Arbitration Proceedings Against Portuguese Government

CTT - Correios de Portugal SA

11/06/2021 17:52

June 11 (Reuters) - CTT Correios de Portugal SA  CTT.LS :
    * INITIATES ARBITRATION PROCEEDINGS AGAINST THE PORTUGUESE
GOVERNMENT
    * ARBITRATION PROCEEDINGS FOR THE REVIEW OF ISSUES RELATED
TO
SUSTAINABILITY OF CURRENT UNIVERSAL POSTAL SERVICE CONCESSION
AGREEMENT IN 2020 AND 2021
    * PROCEEDING AIMS TO PROTECT CO'S RIGHTS RELATED TO IMPACT
AND
CONTRACTUAL EFFECTS, AS THOSE OF A COMPENSATORY NATURE OF THE
PANDEMIC, WHICH CO CALCULATES AT AROUND 23 MILLION EUROS
    * PROCEEDING ALSO AIMS TO PROTECT CO'S RIGHTS RELATED TO
LEGALITY,
IMPACTS AND CONTRACTUAL EFFECTS, WHICH CO CALCULATES AT AROUND
44 MILLION EUROS, OF THE DECISION TO EXTEND AGREEMENT

Source text: https://bit.ly/3iyAhP0
Further company coverage:  CTT.LS 

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