As the situation intensifies, both sides-French Vivendi and an alliance of DT and Polish Elektrim-are refusing to talk to each other and are now communicating via court rulings.
"If one has to deal with lawlessness, the only solution is bringing it to court," Vivendi's director of operations Jean-Bernard Levy told Reuters last week.
His company's claims may easily top 2 (zł.7.9) billion, as Vivendi was to invest at least 1.8 (zł.7.1) billion in Era's shares. The French may even sue private persons as well, reportedly Zygmunt Solorz, one of Poland's richest men and owner of Elektrim.
Meanwhile, the DT management holds a decision by the International Court of Arbitration in Vienna-confirmed by a Polish court-which states it was illegal for Vivendi to acquire the shares in the first place.
The case should have been closed from there, but new problems are emerging.
Elektrim, indebted to the tune of some 400 (zł.1,579) million, is facing motions for bankruptcy.
Thus, the French are likely to direct their claims at Deutsche Telekom instead. The Polish Information and Foreign Investment Agency (PAIiIZ) has now offered mediation services in hopes to cut this Gordian knot.
"The role of the Agency as the advocate of foreign investors is to propose mediation," says its president Andrzej Zdebski. One of the parties has already agreed, although the president would not disclose which.
"If two giants like this fight [for a Polish company], that can only say how attractive this market is," says Zdebski.
Błażej Karwowski
Źródło:
