New chance for Elektrim following victory over DT?

Ailing conglomerate Elektrim's legal victory over Deutsche Telekom has cleared a major hurdle in its debt restructuring and could lead to major ownership changes in mobile firm PTC. But Elektrim's CEO Wojciech Jańczyk said on Friday that a long planned sale of his firm's indirect 25% stake in PTC would probably remain on hold until one remaining case before the Vienna arbitration court is concluded around the end of the year. Elektrim shares jumped 13.3% on Friday in the wake of the ruling. At stake could be control of PTC, now 51% owned by an Elektrim-Vivendi joint venture named Elektrim Telekomunikacja, and 49% owned by Deutsche Telekom. "This court decision gives us more credibility with banks and partners. It means solid assets are behind Elektrim, which will enable us to pay back our debts," Jańczyk said in an interview. (Reuters) A.K.