Paris, January 14, 2011
Vivendi: End of the litigation in Poland
Vivendi has received €1.254 billion. This concludes the dispute about Polish assets.
Vivendi today received €1.254 billion, so ending the dispute about telecommunications assets in Poland.
This is in line with the December 15 2010 agreement signed with Deutsche Telekom, Mr. Zygmunt Solorz-Zak (the main shareholder of Elektrim) and the creditors of Elektrim, including the Polish State and Elektrim’s bondholders.
This has effectively annuled the litigation surrounding the PTC (Polish mobile operator) share capital ownership.
Commenting on this agreement, Jean-Bernard Lévy, CEO of Vivendi, stated: « I am very satisfied with this successful outcome, totally in the interests of our shareholders. I would like to pay homage to the Vivendi teams and to the constructive spirit of both the Deutsche Telekom and Elektrim management. Their work has enabled us to put a successful end to 10 years of litigation ».
The book value of Vivendi’s PTC shares was reduced to zero in 2006.
Vivendi is at the heart of the worlds of content, platforms and interactive networks.
Vivendi combines the world leader in video games (Activision Blizzard), the world leader in music (Universal Music Group), the French leader in alternative telecoms (SFR), the Moroccan leader in telecoms (Maroc Telecom Group), the leading alternative telecoms provider in Brazil (GVT) and the French leader in Pay TV (Canal+ Group).
In 2009, Vivendi achieved revenues of €27.1 billion and adjusted net income of €2.6 billion. With operations in 77 countries, the Group has over 49,000 employees.
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