Vivendi sweetens offer to Elektrim in final push to gain control of PTC

Vivendi Universal has offered a cash contribution of euro 100 million as a sweetener in its bid for control of Elektrim Telekomunikacja (ET), owner of a 51% stake in Polska Telefonia Cyfrowa (PTC), Eastern Europe's largest mobile phone operator. An anonymous Elektrim source quoted by Rzeczpospolita claims that Vivendi's latest move is an attempt to raise the appeal of its bulk debt transfer offer, worth euro 480 million. Vivendi is competing for control of ET with Deutsche Telekom, owner of 49% of PTC. Elektrim's supervisory board will convene to review the bids today, and it is anticipated that the shareholders will be able to view the rival offers on Saturday. (Rzeczpospolita, p. B2, Reuters) M.T.K.