10/13/2006

Vivendi files criminal complaint in Poland vs Deutsche Telekom-Elektrim deal

Vivendi said it has filed a criminal complaint with the Polish prosecutor''s office in order to block Elektrim, which is in bankruptcy proceedings, from selling a 48 pct stake in mobile phone operator Polska Telefonia Cyfrowa (PTC) which Vivendi considers its own to Deutsche Telekom.
Calling the sale a "blatant defiance of Polish laws," Vivendi said Elektrim and Zygmunt Solorz-Zak, in cooperation with Deutsche Telekom, "conducted in secrecy illegal negotiations with certain creditors of Elektrim in order to permit Deutsche Telekom to exercise a call option over the PTC shares."
Elektrim said recently that Deutsche Telekom, which already owns 49 pct of PTC, would pay it more than 604 mln eur for the stake.
Vivendi said the deal represented illegal preferential treatment of one group of Elektrim creditors by another.
Source:euro2day.gr



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