Elektrim says Vivendi rejected billion euro deal on PTC

0 Comments | AFP, August, 2006

WARSAW (AFP) — French media and communications group Vivendi Universal has rejected an offer from the Polish Elektrim firm to buy its stake in Poland's leading mobile telephone operator, PTC, for a billion euros (1.28 billion dollars), Elektrim said.

The deal could have ended a long-running, complex legal battle with the French media giant for control of PTC, in which Germany's Deutsche Telekom also has a stake, it added.

Vivendi is claiming nearly 25 of the share capital in PTC through a company called ET/Telco, a joint venture with Elektrim.

Elektrim is claiming 48 percent of PTC.

"Elektrim proposed to buy Vivendi's shares in ET/Telco and in Carcom (a Vivendi-controlled group that holds a 3 percent stake in PTC) for a billion euros, and so end all...