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Elektrim And Vivendi Given More Time Over Era Purchase

Deutsche Telecom (DT) has extended its offer for the purchase of a 51% stake in Era mobile phone operator Polska Telefonia Cyfrowa (PTC) by a week.

The offer expired Friday, however by late evening DT management announced it had decided to give the two companies Elektrim and Vivendi additional time to re-think the issue over. The new deadline, slated for September 12 also sticks to the original offer, which remains unchanged.

"Elektrim and Vivendi informed us they are willing to continue negotiations therefore we decided to extend the period" said DT's spokesperson Hans Ehnart.

So far, Elektrim's attitude in relation to DT's offer has been slightly cold despite not officially rejected the terms proposing the German concern increasing the price for the stake from EUR 1 billion to EUR 1.4-1.5 billion.

(WBJ 08.ix.03)

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