Agreement to end the telecommunications dispute in Poland

Published on

Paris, December 15, 2010

Agreement to end the telecommunications dispute in Poland

Vivendi signed an agreement today 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. The aim of this agreement is to put an end to the litigation surrounding the PTC share capital ownership.

As a result, Vivendi would receive approximately €1.250 billion and would give up any rights to the shares of PTC. Deutsche Telekom would be recognized as the sole owner of PTC and Elektrim would exit bankruptcy thanks to the repayment of all its creditors. The book value of Vivendi’s PTC shares was reduced to zero in 2006.
This agreement is subject to the completion of several legal steps in Poland, and should be finalized during the first quarter of 2011.

Vivendi: offering the best to the digital generation

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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