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Back to the courts for PTC as ET alleges "theft and fraud"

The ownership battle over mobile operator PTC escalated yesterday both after Elektrim and Elektrim Telekomunikacja (ET) informed the prosecutor about possible violations of the law.

Stock-listed Elektrim was unable to introduce changes to the shareholders book despite being able to introduce changes to the business register of PTC, owner of the Era and Heyah mobile phones networks. "In our opinion the moves of Elektrim and Deutsche Telekom are nothing else than a theft and fraud, and it is a large one - worth EUR 2 billion," said Philippe Houdouin, president of ET. ET claims that the changes in the business register were carried out on the basis of falsified documents and without respect for the law. Last week DT and Elektrim changed the business register and thus replaced supervisory and management boards. According to the documents, PTC is now owned by two subsidiaries of DT and Elektrim, instead of ET. Employees of PTC and guards refused to allow the new management board into the headquarters of the company. "We submitted a lawsuit against the old board of PTC, for among other things impeding the new board to carry out its duties," said Zygmunt Solorz-Zak, the largest shareholder in Elektrim.

(WBJ 01.iii.05)

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