Vivendi files fresh complaint against DT

24 Oct 2006

Vivendi has filed a complaint in a US court against both Deutsche Telekom and its subsidiary T-Mobile, in the latest twist to the ongoing saga regarding ownership of Polish cellco PTC. In a statement the French company said that it filed a complaint under the Racketeer Influenced and Corrupt Organisations Act, and claims that Deutsche Telekom has illegally appropriated Vivendi’s USD2.5 billion investment in PTC. Officials at Deutsche Telekom have not yet commented on the move.

The dispute centres on whether Deutsche Telekom has the right to exercise a call option over a 48% stake in PTC. Vivendi says Elektrim – a Polish utility conglomerate – cannot sell the stake to DT, arguing that it does not belong to Elektrim, but to Elektrim Telekomunikacja, a holding company in which both Elektrim and Vivendi have a stake. In June 2006, however, an arbitration court in Vienna said Elektrim could sell the stake to Deutsche Telekom, giving the German telecoms group control over 97% of PTC. Earlier this month, Vivendi filed a criminal complaint in Warsaw against Deutsche Telekom and Elektrim.

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