Elektrim states Deutsche Telekom takes control of PTC in a three-way dispute that involves Vivendi.(GERMANY)(Brief article)

European Telecom, July, 2006

Elektrim said that Deutsche Telecom had taken over the largest Polish mobile operator in a dispute that involves French media group Vivendi. Elektrim's share value reduced as the deal could have given Deutsche Telecom the shares at a price less than their value. Elektrim said that Deutsche Telecom had exercised an option to Polska Telefonia Cyfrowa, using the ruling of the Arbitration Court in Vienna giving the German company 97 percent of PTC. Earlier, Elketrim had 84 percent stake in PTC and Deutsche Telecom had 49 percent stake.

Elektri's shares were at $1.94, down. Deutsche Telecom shares were at $16.25. Before February 2005, Elektrim's 48 percent claim in PTC was owned by Elektrim Telekomunikacja. Zygmunt Solorz, chairman of Elektrim's supervisory board...

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