September 6, 2006: Telecommunications in Poland
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release English / French
Paris, September 06, 2006
Telecommunications in
Poland
Vivendi strongly challenges the announcements issued by Deutsche
Telekom (DT) to the effect that DT has acquired a 48% stake in PTC from Elektrim
after exercising a call option based on an arbitration award issued in Vienna in
November 2004. These announcements reflect an agreement between DT and Elektrim
that was reached in violation of Polish court rulings.
Vivendi draws
attention to the fact that this arbitration award can have no effect in Poland
at this time. DT fails to mention that the Warsaw Appeals Court on 16 August
2006 suspended its 29 March decision to recognize the arbitration award. The
suspension is effective until such time as Telco’s appeal against the 29 March
decision is heard by the Supreme Court.
Neither DT nor Elektrim can at
this time claim any ownership rights based on the arbitration award or any other
decision.
Moreover, Vivendi and Elektrim Telekomunikacja have obtained
injunctions from the Polish courts preventing transfer of PTC stock by Elektrim
as well as any other agreement between Elektrim and DT. The announcements made
by DT were therefore in violation of these injunctions.
Vivendi will take
any and all necessary legal action against all parties concerned in order to
enforce its rights.
Important disclaimer Vivendi
is quoted on Euronext Paris SA. This presentation contains “forward-looking
statements” as that term is defined in the US Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are not guarantees of the
company’s future performance. Actual results may differ significantly from the
forward-looking statements as a result of a number of risks and uncertainties,
many of which are outside our control, notably the risks described in the
documents Vivendi has filed with the US Securities and Exchange Commission and
the French Autorité des Marchés Financiers. Investors and security holders are
strongly recommended to read those documents at the Security and Exchange
Commission’s website at www.sec.gov and the French Autorité des Marchés
Financiers’ website (www.amf-france.org). Copies of the documents may also be
obtained free of charge from Vivendi. This presentation contains forward-looking
statements that can only be assessed on the day the presentation is issued.
Vivendi does not undertake, nor has any obligation, to provide, update or revise
any forward-looking statements
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