Elektrim one step away from reclaiming PTC shares

For Elektrim the ruling means taking another step towards reclaiming its shares in PTC. It is only a formality, as this country's court is only expected to confirm the Vienna court's ruling. Elektrim claims that selling its stake in PTC was actually legally impossible and wants to cancel the transaction. Should the ruling be issued today, it will come into effect in 21 days. Moreover, the Vienna court obliged Elektrim to change the entry in the shareholders register in two months time, which would be impossible without today's ruling. The new entry would say Elektrim, instead of Elektrim Telekomunikacja (ET), is the owner of 48% of PTC's shares. During yesterday's stock exchange session Elektrim shares' standing rose by 12.8% to reach zł.4.75. This was the investors' reaction to the news that some of its shareholders plan to issue a bankruptcy motion. (Parkiet, p. 3; Puls Biznesu, p. 8) D.W.