Vivendi Files Complaint

PARIS -- Vivendi filed a criminal complaint today with the Warsaw Regional Public Prosecutor's office, to protect its rights as a creditor in the framework of the bankruptcy proceedings of Elektrim and prevent any illegal transfer of PTC shares, including through the exercise of a call option to the benefit of Deutsche Telekom which would result in the preferential treatment of certain creditors in breach of bankruptcy law.

Elektrim and Zygmunt Solorz-Zak, in cooperation with Deutsche Telekom, conducted in secrecy illegal negotiations with certain creditors of Elektrim in order to permit Deutsche Telekom to exercise a call option over the PTC shares. Deutsche Telekom announced that it had paid out 600 million Euros in respect to the call option.

Giving preferential treatment to one group of creditors over another while a company is headed for bankruptcy is a crime in Poland. This complaint, yet another example of Deutsche Telekom and Elektrim's blatant defiance of Polish laws, is directed at all those entities and individuals who could benefit or have participated in the scheme.


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