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BRIEF-Huge Group says settles litigation involving MTN service provider
August 1, 2014 / 3:52 PM / 3 years ago

BRIEF-Huge Group says settles litigation involving MTN service provider

Aug 1 (Reuters) - Huge Group Ltd

* Settlement agreement has been signed between Huge Telecom (Pty) Ltd and Huge Mobile (Pty) Ltd and Mobile Telephone Networks (Pty) Ltd

* As per deal, Huge parties have undertaken to pay MTN sum of R10 million

* Settlement amount must be paid by Huge Telecom by no later than 15 September 2014

* Gross margins have increased significantly in last three years from 19.2% in year to end of february 2012 to 54.6% in year to end of february 2014

* Expects to shortly announce a debt funding transaction Source text for Eikon: Further company coverage:

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