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Industry: Email Alert RSS FeedDeutsche Telekom to face legal action
Telecommunications Mergers & Acquisitions, June, 2005 by Anonymous
Vivendi Universal of France plans to file a suit against Deutsche Telekom, as it withdrew from an agreement to buy Polska Telefonia Cyfrowa (PTC) in 2004. PTC is a mobile company based in Poland.
Vivendi is seeking damages worth $2.8 billion. Deutsche Telekom had backed out of a deal to purchase the 51 percent stake of Vivendi and Elektrim in PTC. Elektrim is a power and telecom company based in Poland.
New management appointments were made in PTC in February 2004. Vivendi has already initiated legal action against Elektrim and Deutsche Telekom, claiming that the two companies' officials are plotting against Vivendi.
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