Deutsche Telekom, an integrated telecommunications company, has sucessfully secured final ownership of PTC, the Polish mobile operator.
In the past Deutsche Telekom, Vivendi and Elektrim have entered into an agreement to solve all the disputes pertaining to PTC, and the telecom company has finally settled all legal disputes with them.
According to the agreement, Deutsche Telekom has to increase its stake in PTC to 100%, making it the sole shareholder of PTC.
The agreement also requires Deutsche Telekom to pay an additional EUR1.4bn to Elektrim and Vivendi.
Closing the transaction agreed in December 2010, now Deutsche Telekom has secured undisputed ownership of PTC and becomes the sole owner of PTC.
Deutsche Telekom CFO Timotheus Höttges said following many years of legal conflict, this agreement finally gives them the exclusive and undisputed power to make decisions – and does so at attractive conditions.
