Vivendi president confirms plan to sell 51% ET stake

Vivendi president Jean-Marie Messier has confirmed the company is interested in selling its 51% stake in Elektrim Telekomunikacja (ET). Messier stated that Vivendi was prepared to divest itself of the shares since they did not belong to the company's core activities. Investment bank Lazard Freres is responsible for finding a buyer for the stake in ET, which controls Polska Telefonia Cyfrowa (PTC), operator of the Era mobile phone network. According to analysts asked by Prawo i Gospodarka, Vivendi's plan to sell the ET stake comes as no surprise, but it remains unsure whether a good price can be negotiated. Meanwhile, the Elektrim supervisory board met yesterday, and according to press speculation may have decided to sack deputy CEO Jacek Walczykowski. (Prawo i Gospodarka, p. 10; Gazeta Wyborcza, p. 22; Reuters) P.J.