Polsat-TCF takeover of Elektrim moving full steam ahead

BRE Bank has sold a 9.6% stake in Elektrim reducing its holding in the troubled conglomerate to 20.3%, Elektrim said in a statement on Tuesday. The sale is part of a recently signed deal between BRE, which is half-owned by Germany's Commerzbank, and private broadcaster Polsat and little-known firm TCF, to dispose of its entire stake in Elektrim by September. Elektrim and French-American group Vivendi Universal run the joint venture firm Elektrim Telekomunikacja, which controls PTC - Eastern Europe's top cellphone group. However, its ownership is still being disputed by Deutsche Telekom which holds a minority stake in PTC. (Reuters) J.K.