Deutsche Telekom has reached an agreement to take full ownership of Polish mobile operator PTC after having settled all legal disputes with Vivendi and Elektrim.
The German company will pay an additional E1.4bn for a 51% stake in PTC, having already paid…
Deutsche Telekom has reached an agreement to take full ownership of Polish mobile operator PTC after having settled all legal disputes with Vivendi and Elektrim.
The German company will pay an additional E1.4bn for a 51% stake in PTC, having already paid E700m in 2006.
In fact, in 2005 Deutsche Telekom, which already owned 49% of PTC, exercised a call option for an additional 48% and in 2006 make an initial payment of E700m to Elektrim. It will now make a second payment for the 48% stake and acquire the remaining 3% owned Carcom and Autoinvest, two holding companies owned by Elektrim (49%) and Vivendi (51%).
Deutsche Telekom said the larger portion of the E1.4bn will go to Elektrim as the rest of the payment for the 48% stake. Meanwhile, Vivendi said that it would receive about E1.25bn as part of the agreement.
PTC claimed that in H1, it had 29% of the mobile market share, while PTK Centertel had 31% market share and Polkomtel 30%.
Deutsche Telekom said that, in the first nine months of the year, PTC achieved an EBITDA margin of 37%.
