DT rejects Vivendi's PTC bid

James Middleton

September 27, 2006

1 Min Read
DT rejects Vivendi's PTC bid

German incumbent Deutsche Telekom has rejected the offer from Vivendi to buy DT’s 49 per cent stake in Polish mobile operator Polska Telefonia Cyfrowa (PTC).

As reported by telecoms.com Tuesday, Vivendi put Eur2.5bn on the table to take control of PTC, but reports in the German press state that DT is not prepared to sell its stake now or anytime in the near future.

Indeed, both DT and Vivendi have been attempting to take control of PTC for several years now, resulting in lengthy legal action in both the Polish and Austrian courts.

Vivendi claims ownership of 51 per cent of PTC through a joint venture with Polish utility Elektrim.

But a Warsaw court last year ruled that Elektrim itself and not the joint venture is actually the holder of 48 per cent of the 51 per cent stake in PTC. DT has previously tried to purchase the 48 per cent from Elektrim, but Vivendi has won an injunction against this.

At this rate, the battle for control of PTC looks set to continue for some time to come.

About the Author(s)

James Middleton

James Middleton is managing editor of telecoms.com | Follow him @telecomsjames

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