French Vivendi used to stress that it would not sell its 15.04 percent stake at Elektrim. It did, however.
“This is true. Vivendi decreased its stake at Elektrim to below 1 percent”, Aleksander Kobecki, Vivendi’s media advisor said.
The problem is that some investors did not sell their shares basing on former declarations from Vivendi. They hoped that as long the second-largest shareholder stays within the company, Elektrim will not disappear from the market.
The news changes Elektrim’s future on the WSE. It looks like small investors have over 15 percent of its stock, which means that the company must be listed again within 6 months since bankruptcy proceeding is concluded. This was one of the conditions of the Warsaw Stock Exchange authorities when they agreed to suspend Elektrim’s stock from trading on January 11th. Now, they decided to exclude Elektrim from trading on January 21st.
PAI Media now has 78.42 percent of Elektrim. Other investors have 21.58 percent, including 5.01 percent owned by Elzbieta Sjoblom. 16.57 percent of shares may be in the hands of small investors.
Vivendi got about PLN 100m (EUR 27.8m) for its stake.
(PLN 1 = EUR 0.278)