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October 10, 2006: Vivendi filed a criminal
complaint against Deutsche Telekom and Elektrim
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press release English
/ French
Paris, October 10, 2006
Vivendi filed a criminal complaint against
Deutsche Telekom and Elektrim
Vivendi filed a criminal complaint today
with the Warsaw Regional Public Prosecutor's office, to protect its rights as a
creditor in the framework of the bankruptcy proceedings of Elektrim and prevent
any illegal transfer of PTC shares, including through the exercise of a call
option to the benefit of Deutsche Telekom which would result in the preferential
treatment of certain creditors in breach of bankruptcy law.
Elektrim and
Zygmunt Solorz-Zak, in cooperation with Deutsche Telekom, conducted in secrecy
illegal negotiations with certain creditors of Elektrim in order to permit
Deutsche Telekom to exercise a call option over the PTC shares. Deutsche Telekom
announced that it had paid out 600 million Euros in respect to the call
option.
Giving preferential treatment to one group of creditors over
another while a company is headed for bankruptcy is a crime in Poland. This
complaint, yet another example of Deutsche Telekom and Elektrim's blatant
defiance of Polish laws, is directed at all those entities and individuals who
could benefit or have participated in the scheme.
Important disclaimer: This press
release contains 'forward-looking statements' as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are not guarantees of future performance. Actual results may differ
materially from the forward-looking statements and business strategy as a result
of a number of risks and uncertainties, many of which are outside our control,
including but not limited to the risks described in the documents Vivendi has
filed with the U.S. Securities and Exchange Commission and with the French
Autorité des Marchés Financiers (www.amf-france.org). Investors and security
holders may obtain a free copy of documents filed by Vivendi with the U.S.
Securities and Exchange Commission at www.sec.gov or directly from Vivendi.
Vivendi does not undertake to provide, nor has any obligation to provide, update
or revise forward-looking statements.
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