LONDON—Vivendi Universal signed a nonbinding memorandum of understanding with a consortium of financial investors led by Citigroup Investments to dispose of its 49-percent stake in Polish company Elektrim Telekomunikacja. Elektrim owns 51 percent of PTC, Poland’s largest mobile operator.
Vivendi said the holding does not form part of its medium-term strategy.
Vivendi Universal will keep a minority interest in the holding company for the acquisition, but will completely withdraw from the Elektrim investment in due course. The agreements are expected to be signed within two months.
Financial terms were not disclosed.
