Spanish court rejects Vodafone’s €140MN case against ONO | Cable | News | Rapid TV News
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Madrid’s Juzgado de lo Mercantil Número 3 has thrown out the case brought by Vodafone against ONO’s management board.

ono vodafone 20 mar 2018The telco, which acquired the cableco in 2014, accused ONO of a VAT fraud of €60 million, for which it demanded €140 million in compensation.

The lawsuit was initially brought against José María Castellano, ONO’s former president, Rosalía Portela, CEO, and Carlos Sagasta, financial chief, accusing them of malpractice.

Although the court, as well as Spain’s tax office, agreed the fraud took place, it found that Vodafone was aware of the ongoing fraud investigation when it decided to acquire ONO. Therefore, there was no entitlement to compensation by ONO’s former board, even though it was Vodafone which paid the fine imposed by the tax authorities.

According to Life Abogados, the law firm representing ONO’s former executives, the sentence has confirmed that there was no wrongdoing or misinformation provided by Castellano, Portela and Sagasta.

Vodafone has said that it will take an appeal to Madrid’s provincial court.