Warsaw (Puls Biznesu) – In four months, Elektrim should buy out its bonds for EUR 450m. The funds were to be raised from selling 48 percent in PTC, Poland’s mobile operator but Zygmunt Solorz, Elektrim’s main shareholder and chairman, has another idea. “I consider other ways to pay back creditors”, he said.
He probably means to issue bonds via Polsat, its private TV broadcasting company. No decisions have been made as yet but it may be the only solution as selling the stake in PTC may not be possible. There is a clash going on concerning the stake. Last year, arbitrary court said that PTC’s stake shifted to Elektrim Telekomunikacja (bought by Vivendi) were shifted without legal consequences and they always belonged to Elektrim. Vivendi keeps repeating that it offers EUR 650m for the stake. Deutsche Telekom, another shareholder of PTC, also wants to buy the stake and become the sole owner of PTC.Poland/Enterprises/Telecommunication