DT unlikely to win disputed PTC shares from Elektrim

The Vienna Arbitrational Tribunal announced that this week it will rule on the case of Elektrim's stake in Polska Telefonia Cyfrowa which is disputed by Deutsche Telekom (DT). The case relates to DT's accusation that Elektrim took over a stake in PTC, while being in a very poor financial condition, and therefore DT demanded authorization for a call option on the stake, plus additional compensation for violation of the terms of the shareholders contract. "I do not see any other possible decision that the court could make, besides a one which will be beneficial for Elektrim. The financial position of the company is not endangered in any way," said a source close to Elektrim. This view is also supported by many analysts and press reports. The Tribunal's decision against DT, would also mean the speeding up of Polsat taking control over Elektrim, and its most significant subsidiary, Elektrim Komunikacja, which owns a 51% stake in PTC. (Puls Biznesu, pp. 1, 3) A.K.