WP minority shareholders step up pressure on TP

This would mean that TPI would have to pay zł. 230 million for the 20% stake controlled by the minority shareholders. Yann Gontard, TPI President, said such a demand has no legal basis. "The arguments of the minority shareholders are totally inaccurate," he said. Sources close to the situation claim that the reason for Grabski's move is the fact that TP SA is running the Neostrada.pl service. According to a deal signed at the time of share acquisition by TPI in 2001, the portal's shareholders have the right to demand execution of the put option, if TP SA launches services competitive to those of WP. "When TP SA invested in WP, it promised to keep the portal at the center of its Internet strategy," said one of the minority shareholders. (Puls Biznesu, p. 6) A.K.