French Vivendi, Deutsche Telekom sign accord to end dispute over PTC
French Vivendi,the heading European media as well as entertainment organisation as well as Deutsche Telekom, the German telecom operator, have sealed an agreement ending the years-long legal battle over the tenure of Polish mobile phone user PTC.
Under Wednesday's agreement, Deutsche Telekom will compensate 1.25 billion euros (1.65 billion U.S. dollars) to Vivendi for the solitary tenure of PTC.
"The target of this agreement is to put an finish to the litigation surrounding the PTC share collateral tenure ... Deutsche Telekom would be recognized as the solitary owner of PTC," the French organisation said in the statement.
The brawl in between the French as well as German operators antiquated back to 1999 when Vivendi offered 1.8 billion euros (2.38 billion dollars) to group up with the Polish land company Elektrim to create the joint venture land 51 percent of PTC.
But the understanding was refused by Deutsche Telekom, that afterwards owned about 22 percent of PTC as well as argued the partnership disregarded the shareholder agreement it done with Elektrim.
Source: Xinhua
Under Wednesday's agreement, Deutsche Telekom will compensate 1.25 billion euros (1.65 billion U.S. dollars) to Vivendi for the solitary tenure of PTC.
"The target of this agreement is to put an finish to the litigation surrounding the PTC share collateral tenure ... Deutsche Telekom would be recognized as the solitary owner of PTC," the French organisation said in the statement.
The brawl in between the French as well as German operators antiquated back to 1999 when Vivendi offered 1.8 billion euros (2.38 billion dollars) to group up with the Polish land company Elektrim to create the joint venture land 51 percent of PTC.
But the understanding was refused by Deutsche Telekom, that afterwards owned about 22 percent of PTC as well as argued the partnership disregarded the shareholder agreement it done with Elektrim.
Source: Xinhua
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