The German Telekom has negotiated according to estimates by analysts for the Polish mobile operator PTC in spite of an increased offer a reasonable price. The shares of the Bonn-based group could not on Monday but particularly benefit from the announcement that Poland’s largest mobile operator now in early 2004 for 1.1 billion euros may be acquired by Deutsche Telekom.
“The price looks good,” a stockbroker at Sal Oppenheim said on Monday. Other traders and analysts described the price agreed to be acceptable. The Deutsche Telekom had announced late on Sunday evening, to have achieved with a 51 percent stake in PTC, Elektrim and Vivendi corporations involved a fundamental agreement on the purchase of these shares. Telekom had originally offered only one billion euros, which repeatedly referred to as Elektrim was too low.
While the shares of Telekom on Monday stood out with a gain of 0.8 percent is not out of the total market, recorded the title of Elektrim strong gains.
“The acquisition is worth the money, because this is a good strategic move to Eastern Europe,” said one trader. The price of Telekom shares, but will benefit only to a limited extent, since the takeover was not for the lengthy negotiations come as a surprise.
Even with analysts, the prize attracted to the takeover on benevolence. “Up to 1.2 billion euros, Deutsche Telekom would be able to pay for PTC,” said a telecom analyst. The negotiations were tactically by both the telecom and the PTC Vivendi and Elektrim principal owner was well led. “All can feel like a winner,” added the analyst.
The Deutsche Telekom shares were up 0.8 percent at 13.27 euros, a positive trend in the overall market. The Dow Jones Stoxx Telecom, however, recorded an increase of 1.5 percent. The papers submitted by Elektrim on the Warsaw Stock Exchange and on the other hand significantly increased by approximately ten percent to 3.92 zloty. Vivendi titles listed at a premium of 1.6 percent at 15.92 euros, with a higher rate increase than the French stock market.
TELECOM: THE TAKEOVER IS, CONTRACTS ARE STILL OUT
A Telekom spokesman said on Monday that “the acquisition is in volume and in the case”. Until Friday, the lawyers would work out the complex treaty. So far, Telekom controls 49 percent of PTC and, after completion of the transaction fully consolidate with 5.6 million customers, profitable market leader in Poland.
TELEKOM Bessert LAST-MINUTE OFFERS TO
The principle-agreement was preceded by five days of negotiations, because Elektrim and Vivendi is not a division on 25 August was some of the Telekom offered one billion euros. The PTC shares by Elektrim and Vivendi are almost equally with a € 500 million in debt holding bundled main creditor is the French conglomerate Vivendi. The financially strapped utility Elektrim had demanded more money for its indirect share of PTC and with this demand, both the Telecom and Vivendi put under pressure.
To ensure the desired years since taking over majority of PTC, the Bonn-based company increased its finally the weekend on 25 August submitted an offer. Elektrim is now maintained by EUR 400 million telecom data and thus satisfy his creditors. Taking into account the loan owed Vivendi, Elektrim would have enjoyed under the original offer telecom only around 250 million €.
