Brief: LICT announces PTPMS Communications' filing for legal action against Straight Path Communications

LICT

10/10/2017 22:05

Oct 10 (Reuters) - LICT Corp  LICT.PK  
    * LICT Corp - announces filing of legal action by PTPMS 
Communications against Straight Path Communications to obtain 
amount related to wireless licenses 
    * LICT - case is based on proposed transfer by straight 
path to verizon of straight path's wireless licenses through 
acquisition by Verizon for $3.1 billion 
    * LICT - "PTPMS is seeking ruling that straight path must 
pay co value of that 20% interest due to Verizon transaction" 
    * LICT Corp - PTPMS is also requesting a trial to determine 
total value of its 20% interest in licenses 
    * LICT Corp - co holds a 49% interest in  PTPMS 
Communications LLC 
 
Source text for Eikon:  ID:nBw8RxnSra  
Further company coverage:  LICT.PK  
 
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