Elektrim sets the terms to sell its stake in Era

Following Deutsche Telekom's (DT) offer for the purchase of a 51% stake of Polska Telefonia Cyfrowa for EUR 1 billion from Elektrim Telekomunikacja (ET), Zygmunt Solorz the head of Elektrim who controls 49% of ET, announced that he can only give a green light to the sale if Elektrim will be guaranteed EUR 450 million. "Everything was planned much earlier. I am sure that DT has already made an agreement with Vivendi behind our back," said Solorz, adding that Vivendi does not want to talk with Elektrim, and no date for a potential meeting has been reserved. Only a capital injection of EUR 450 million will allow Elektrim to pay its liabilities, without which it would not make sense to withdraw from its engagement with the Era GSM operator. According to unofficial information, the ET directors have already accepted the offer, while September 4, is the date when the supervisory board will discuss the issue. (Gazeta Wyborcza, p. 19) A.K.