BONN, Germany-Deutsche Telekom has reached an agreement to take full control of Poland’s Polska Telefonya Cyfrowa after raising its offer by $113 million to $1.2 billion. Vivendi Universal will gain $780 million in the deal, while Elektrim will earn $451 million and Ymer will take $10.2 million.
The parties are expected to reach a definitive agreement by Sept. 19, DT said. The Germany operator said the purchase will not be earnings dilutive and its debt reduction targets remain unchanged. The German operator said the move is in line with its strategy of pursuing profitable growth, as PTC is profitable both operationally and after tax.
DT first made its offer for the Polish mobile operator last month and then extended the offer period.
DT currently owns 49 percent of PTC, and Elektrim and Vivendi together hold 51 percent through Elektrim Telekomunikacja.
