New suggestion for Elektrim

Alan Heath
09-03-2001, 00:00

New suggestion for Elektrim

Elektrim is once again about to have to reconsider its position in the telecommunications sector. It has been unfortunate in its choice of partners as three arbitration cases point out. It is now believed that the best answer could be to find a compromise between the three main players, Vivendi, Deutsche Telekom and Vivendi which would go a long way to reducing the legal headaches.

Elektrim went into the telecommunications business with its investment in PTC who run the Era GSM network. For two years it has been seeking a partner who would help it develop.

A natural partner seemed to be Deutsche Telekom and at the end of 1998 the two sides signed a letter of intent engaging the Germans in the stationary side of the business. Negotiations broke off and Vivendi stepped into their place the following summer. However the French company placed no capital into the traditional side of telecommunications.

Elektrim renewed its romance with the Germans and the French initiated legal proceedings on 23 February — five days before the wedding date — accusing the Poles of breaking the 1999 investment contract.

If the French wanted to break the affair then they succeeded for no contract has yet been signed. Now a menage a trois may be the solution.

© ℗
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