Investment treaty arbitrations in the telecommunications sector have been increasing in recent years, driven by several industry characteristics – such as a rise in foreign investments and the significant routine investments needed for development and upgrades – that expose the sector to investor-state disputes.

In a recent chapter included in Global Arbitration Review’s The Guide to Telecoms Arbitrations, Brattle Principal Richard Caldwell and Senior Associate Dr. Lucrezio Figurelli explore these industry characteristics and provide an overview of the investment treaty arbitrations initiated by telecoms operators since the mid-1990s. They also discuss the use of discounted cash flow (DCF) analysis to calculate damages in these cases and highlight issues that emerge when valuing telecom assets in the context of treaty arbitrations.

The full chapter, “Valuation Approaches: Investment Treaty Arbitrations,” is available below.

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