IDT Corp. says it will receive $44 million from Spain-based Telefonica S.A. now that the two companies have settled a lawsuit.
IDT, a CLEC, in January 2001 filed a complaint against Telefonica and its Terra Networks division because Telefonica had gone back on a contract to operate jointly its Internet services in the United States. The service would have targeted Spanish speakers.
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IDT Gets $44 Million from Settlement
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