Deutsche Telekom To Pay EUR1.4 Billion More To Elektrim, Vivendi For PTC

Germany's Deutsche Telekom AG (DTE.XE) said Wednesday it will pay an additional EUR1.4 billion to Elektrim and France's Vivendi S.A. (VIV.FR) as part of an agreement to settle all legal disputes regarding Polish mobile Polska Telefonia Cyfrowa, or PTC.

Deutsche Telekom has entered into an agreement with the French company Vivendi, the Polish company Elektrim and creditors of Elektrim to secure 100% ownership of the Polish mobile operator PTC.

Deutsche Telekom already paid EUR0.7 billion in 2006, which means that the company is paying a total of EUR 2.1 billion toward final settlement of all litigation.

The agreement between the three parties has been signed Wednesday.

Closing of the transaction is subject to conditions.

-By Natascha Divac, Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@dowjones.com

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