Elektrim needs financial charge-up to repay bondholders

The company was to receive money from the sale of a 48% stake in mobile phone operator PTC, but currently the plans are being altered. "I am considering other options to satisfying creditors," said Zygmunt Solorz, the main shareholder in Elektrim and head of its supervisory board. According to Puls Biznesu, funds might be acquired by issuing debenture securities by the largest private television firm, which is also owned by Solorz - Polsat. No final decisions have been made yet, but this could be the only feasible solution. "It is hard to imagine the transaction of selling shares in PTC if resolutions of the court are not respected," said Zygmunt Solorz, commenting on the ongoing dispute concerning the ownership rights to a stake in PTC between French Vivendi and Elektrim, jointly with Deutsche Telekom. (Puls Biznesu, pp. 1, 12) M.M.