Greece-Based Olympia Submits Notification of Dispute to Polish Government for LTE Auction

ATHENS, Greece, Sept. 23, 2015 /PRNewswire/ -- "Olympia, the Greek entity controlling the majority stake of the Polish mobile operator P4 Sp. z o.o., submitted on September 21^st, 2015 to the Polish Government a notification of dispute and request for an amicable settlement under the Bilateral Treaty between Poland and Greece for the Promotion and Reciprocal Protection of Investment, regarding the P4 investment.

Olympia notified that a planned change of the rules of the ongoing LTE auction will result in irreversible infringement of interests of P4 and tangible damages up to EUR 500 million to this investment.  

Understanding the importance of the LTE auction for the Polish economy, Olympia is determined to seek an amicable solution with the Polish Government, which will support quick spectrum allocation without violating the rights of the participants of the on-going auction.

Should the Polish government insist on solutions which violate these rights, Olympia shall seek compensation by initiating an arbitration process in front of the relevant international arbitration court. The BIT obliges Poland to keep obligations it entered into in respect of the investments, and allows for disputes in this respect to be decided by an International Arbitration Tribunal."

For any further information or clarification please visit the company website www.odv.gr/en/ or contact:

Anthi Trokoudi
Olympia
E: [email protected]
T: +30-210-8181580,

Stacy Dimakakos
Public Worldwide
E: [email protected]
T: +1-917-981-5501

SOURCE Olympia

Related Links

http://www.odv.gr/en