Elektrim doing its best to hinder sale of PTC to DT

If the Vivendi-dominated supervisory board of Elektrim Telekomunikacja decides to sell a 51% stake in Polska Telefonia Cyfrowa (PTC) to Deutsche Telecom (DT), Elektrim will do its best to hinder the transaction, the chairman of Elektrim's supervisory board Zygmunt Solorz announced yesterday. He added that Elektrim still hopes to come to terms with PTC's French shareholder Vivendi. Solorz claims that under the agreement between Vivendi and Elektrim, the latter has the right to block the transaction. Elektrim fears that its interests in ET are not sufficiently protected and that the firm has no real influence on what's going on in ET. "Elektrim directly holds one share in PTC and that provides our company with the possibility to make DT's life more difficult," said Solorz. DT is ready to pay EUR 1 billion for the stake in PTC. The ET supervisory board is going to meet DT on Thursday to discuss the purchase. Elektrim representatives will not be present at the meeting. "That's a pity since the decisions regarding PTC requires our consent," said Piotr Nurowski acting president of Elektrim. (Puls Biznesu, p. 3) A.Z.