DT agrees PTC price

2 Sep 2004

After weeks of speculation, Deutsche Telekom has agreed a EUR1.3 billion deal to buy out its partners Elektrim and Vivendi Universal, and take full ownership of Polish cellco Polska Telefonia Cyfrowa (PTC). The Polish energy group and French media conglomerate jointly own 49% of PTC through holding company Elektrim Telekomunikacja. The deal is currently awaiting approval by Elektrim Telekomunikacja’s creditors, which are owed EUR436 million and prevented a similar deal from going through late last year.