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Vodafone Sued for 1.37 Billion Euros

Mobile Trade Stores has sued Vodafone Group Plc's Greek sector, involving costs it felt when Vodafone revoked franchise agreements for 1.37 billion euros.

MTS', who lies under the umbrella of Papistas Holding SA, lawsuit concerns harm and moral hardships, as a result of business losses. It was filed at the Greek Court of First Instance in Athens.

MTS has claimed that Vodafone altered its Greek policy after 2008, when it ceased loan and maintenance service contracts, resulting in monetary hits to Papistas Group companies. Last December, MTS filed a comparable lawsuit for 255.5 million euros against Vodafone.

Vodaphone spokesman Simon Gordon described: "The Papistas Group companies in Greece have made legal claims against Vodafone Greece following Vodafone's termination of a long-standing commercial relationship...The claims are without merit and the purported losses completely fanciful. Vodafone will be defending them vigorously".