Deutsche Telekom again eyeing Polish telecoms operator PTC: report

0 Comments | AFP, June, 2004

FRANKFURT (AFP) — German telecommunications giant Deutsche Telekom is again in negotiations with French firm Vivendi Universal and Polish energy group Elektrim to buy Poland's biggest mobile phone group PTC, the Financial Times Deutschland reported.

Quoting well-informed sources, the newspaper said Deutsche Telekom, which already owns 49 percent of PTC, had re-started talks to buy the remaining 51 percent, held by Elektrim Telekomunikacja (ET), itself a joint venture between Vivendi and Elektrim.

Europe's number one telecoms group had already tried to buy out PTC's other shareholders late last year, but a deal fell part for two main reasons.

Firstly, Elektrim failed to agree with its own creditors on how it would use the proceeds from the sale to repay debt....