Elektrim torpedoes sale of PTC to DT

Elektrim has successfully carried out its threat and blocked the sale of Elektrim Telekomunikacja's (ET) shares in GSM mobile phone operator PTC to Deutsche Telekom (DT). This was achieved by Elektrim's member on ET's supervisory board, Monika Hałupczak, resigning from the board. The management of ET expressed their regret and underlined the urgency of selling the stake in PTC. Today, DT EUR 1 billion offer expires. Vivendi had accepted the offer and if Hałupczak had not resigned, then the deal would have gone through as ET's supervisory board is dominated by Vivendi representatives. "We placed our offer and we will wait until it expires," said DT's spokesman Hans Ehnert. It is however, unknown when the offer could be analyzed again, and Elektrim is in no rush to replace their member on ET's supervisory board. Elektrim will only give the green light to the contract if it receives EUR 450 million from the deal. (Puls Biznesu, pp. 1, 7) M.M.