Vivendi files criminal complaint against DT

11 Oct 2006

Vivendi has filed a criminal complaint with the Warsaw regional public prosecutor’s office against Deutsche Telekom (DT) and Elektrim, aimed at preventing ‘any illegal transfer’ of shares in Polish cellco Polska Telefonia Cyfrowa (PTC). Vivendi alleges that Elektrim, and its biggest shareholder Zygmunt Solorz-Zak, co-operated with DT to hold illegal negotiations with certain creditors of Elektrim. The aim of the talks was to permit DT to exercise a call option over the PTC shares, Vivendi claims.

Last week, DT confirmed that it had made a first payment of more than EUR600 million (USD760 million) to Elektrim for the disputed 48% of PTC. Vivendi maintains however that its Polish joint venture with Elektrim, Elektrim Telekomunikacja, owns the stake, and is pressing this claim through the Polish courts. In a statement released to the press Vivendi said that ‘the exercise of a call option to the benefit of DT would result in the preferential treatment of certain creditors in breach of bankruptcy law’. The company added that giving preferential treatment to one group of creditors over another while a company is headed for bankruptcy is a crime in Poland. The filed complaint is ‘directed at all those entities and individuals who could benefit or have participated in the scheme,’ Vivendi said.

Poland, Deutsche Telekom (DT), T-Mobile Poland