Telecommunications in Poland: The Polish Supreme Court quashes decision for partial recognition of the Vienna ruling (in french)
Paris, January 18, 2007
Telecommunications in Poland: The Polish Supreme Court quashes decision for partial recognition of the Vienna ruling
Today, Thursday January 18, 2007 the Polish Supreme Court overturned the decision of the Warsaw Court of Appeal of March 29, 2006 which had confirmed the partial recognition in Poland of the Second Vienna Award of 26 November 2004. The case is to be reheard by the court of first instance. As a result the Vienna Award has no effect in Poland and according to Polish law Telco is the owner of 48% of PTC.
The decision of Poland’s highest court follows the decision on December 18, 2006 of the Austrian Supreme Court which definitively confirmed the Vienna Award to Telco did not apply to Telco. In accordance with recognized norms of international law Deutsche Telekom and Elektrim should now recognize Telco’s rights to the PTC Shares.
Vivendi intends to continue all proceedings it has previously commenced in Poland and various other countries (such as France, Switzerland, the UK and the USA), and in particular the complaint made in the U.S. Federal Court of the State of Washington under the RICO Act (“Racketeer Influenced and Corrupt Organization Act”), in order to fully assert its rights to the PTC shares and recover damages for the harm it has suffered.
This press release contains forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Vivendi. Although Vivendi believes that such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements 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 filed with the Autorité des Marchés Financiers (French securities regulator) and which are also available in English on our web site (). Investors and security holders may obtain a free copy of documents filed by Vivendi with the Autorité des Marchés Financiers at www.amf-france.org, or directly from Vivendi. The present forward-looking statements are made as of the date of the present press release and Vivendi disclaims any intention or obligation to provide, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.