Deutsche Telekom in Era takeover

Such a verdict was sent a few days ago to Warsaw-based Elektrim, which until then claimed that it had control over almost half of the assets. "The arbitration tribunal said that the Germans took advantage of their buy option and took over the shares which were under our control," said Elektrim's president, Piotr Nurowski. Late last year Elektrim transferred the shares to Elektrim Telekomunikacja, which is controlled by the French company Vivendi. The court ruled that if the shares were transferred back to Elektrim then the temporary change in ownership would not affect the remaining shareholders in PTC. Vivendi however did not respect this judgment and the shares were not transferred back. DT were therefore able to purchase the remaining shares. Now all that remains is to settle the price of purchase of the shares, of which the book value stands at EUR350 million. (Puls Biznesu, pp. 1, 10) A.K.