DT CFO says after PTC it has no plans for Central Europe

Karl-Gerhard Eick, CFO of Deutsche Telekom (DT), announced on Wednesday that his company expects to sign the takeover contract of the remaining 51% stake in mobile operator company PTC by the end of the week. Moreover, he added that DT had no further expansion plans in Central and Eastern Europe. The German company is obliged to pay EUR 1.1 billion for the stake, out of which Elektrim will receive EUR 400 million and French Vivendi EUR 691 million. The French company agreed to reduce Elektrim Telekomunikacja's debt, in which Elektrim holds 49% stake, as otherwise it would have to participate in repaying the debt. The negotiations ended on Sunday, but the signing of the contract has been slightly delayed, as according to Reuters, lawyers have problems with describing the capital relations between the companies which own stakes in PTC. Deutsche Telekom will pay for the transaction in cash. (Parkiet, p. 3) M.M.