Vivendi sends Elektrim a riposte

The move would have helped solve the legal turmoil over ownership of PTC. "We are trying all means to solve this multi-year conflict," said Zygmunt Solorz-Żak, Elektrim's largest shareholder and chairman of its supervisory board. According to Vivendi, the price was too low; what happens next will depend on Elektrim and Deutsche Telekom. The latter had agreed to finance the acquisition of shares in PTC from Vivendi, thus gaining a 100% stake in PTC. Elektrim would then be able to pay off its creditors who demand over EUR 500 million. Later the company could acquire energy assets from Solorz-Żak and still operate in this sector. (Puls Biznesu, p.5) M.M.