Will TDC Internet meet deadline to buy TDC IP?
Danish TDC Internet has three days to pay zl. 70 million to Softbank for 49%
of TDC Internet Polska (TDC IP) it purchased on December 5. Although the
deadline for finalizing the contract is December 31, under its provisions,
the money must be transferred to Softbank's account by Monday for the
contract to remain valid. "Taking into account TDC Internet Polska's
troubles, anything is still possible," said a TDC IP insider. Originally,
Softbank demanded zl. 120 million for the company, but settled on securing
zl. 70 million now, rather than a larger sum in the unforeseeable future.
TDC IP, which underwent a board shake-up, still has problems with unions and
may faces legal action over irregularities concerning work permits for its
Danish employees. (Puls Biznesu, p. 6) J.K.
