DT makes tempting offer to Elektrim for PTC stake

German telecoms giant Deutsche Telekom (DT), which controls a 49% stake in Polska Telefonia Cyfrowa (PTC), the Era GSM operator, has offered EUR 1 billion to Elektrim and Vivendi Universal for their 51% stake in the company. "This is a serious offer," said Piotr Nurowski, the head of Elektrim, adding that it was valid until September 5. Nurowski also said that details of the offer are not yet known as DT, in contrary to what was said in an earlier DT press release, was not recently in talks with the operator's shareholders. According to analysts the offered price does not include the control premium. The estimated value of PTC Era oscillates between EUR 3 billion and EUR 3.5 billion. In November last year, Erste Securities estimated the value of the stake owned by Elektrim at zł. 2.9 billion. The largest mobile phone operator, with 5.6 million clients recorded revenues of zł. 1.4 billion in Q2 this year with profits over zł. 120 million. The revenues would also go some way to solve Elektrim's pressing financial problems. (Parkiet, p. 1; Puls Biznesu, p. 7) A.K.