All Disputes between Svyzanoy and MTS settled
12.02.2016 442 views
MTS, Svyaznoy Logistics and its controlling shareholder Trellas Enterprises Limited (jointly referred to as “Svyaznoy”) announced they had settled all differences related to the performance of dealer contracts and use of trademarks.
Within the terms of the arrangements, MTS and Svyaznoy discontinue ongoing legal proceedings, withdraw their lawsuits and abandon their mutual claims.
“Thanks to the good will and constructive stances of the counter parties, MTS and Svyaznoy settled all disputed issues and reached a settlement agreement. Under today’s challenging economic conditions, in order to avoid wasting the companies’ resources and time, we decided to reach a compromise, close disputes, and focus on developing the business to the benefit of the market and subscribers,” said MTS President Andrey Dubovskov.
“Svyzanoy and MTS have been in a long-term partner relationship. Unfortunately, certain changes in the partnership format lead to a communication mishap. However, thanks to a constructive and open stand the parties managed to overcome all differences of opinion,” said Oleg Malis, Solvers Group owner, shareholder of Svyaznoy. “I welcome signing of the agreement, which confirms once again that we are ready to settle any controversies at the negotiating table, and that Svyaznoy has always been an open and reliable partner for all market participants.”
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