Vivendi seizes US court in Polish telecom dispute

0 Comments | AFP, October, 2006

PARIS (AFP) — French group Vivendi announced that it had filed suit in the United States against Deutsche Telecom of Germany over a long-running dispute involving Polish group PTC. Vivendi says it invested 2.5 billion dollars (2.0 billion dollars) in PTC via a joint venture with Polish holding company Elektrim and is battling to recover the investment with a number of court actions.

Under a disputed transaction at the centre of the case, Deutsche Telekom bought the 48-percent stake in PTC owned by the joint venture and the German group says it now controls 97 percent of PTC. Vivendi has filed suit in a Seattle court against Elektrim's main shareholder, Zygmunt Solorz-Zak, Deutsche Telekom and its mobile unit T-Mobile under the US Racketeer Influenced and Corrupt...