Polish TPSA to pay $545 mln to GN’s DPTG, TDC-court rules

WARSAW, Sept 4 (BestGrowthStock) – Polish telecom firm
Telekomunikacja Polska (TPSA.WA: ) said late on Friday it must
pay 1.568 billion zlotys ($544.6 million) in compensation to GN
Store Nord’s Danish Polish Telecommunications Group, according
to an arbitration court ruling.

The dispute, which lasted for nine years, was between DPTG
on one side and Polish telecom Telekomunikacja Polska S.A.
(TPSA) — controlled by France Telecom (FTE.PA: ) — on the
other.

GN (GN.CO: ) is involved through its 75 percent stake in the
Danish firm DPTG of which Danish telecom TDC (TDC.CO: ) owns the
remaining 25 percent.

It concerns determination of traffic volumes carried over
the NSL fibre optical telecom network in Poland. DPTG says it
is entitled to 14.8 percent of net profits from NSL during the
period from 1994 to 2009.

The ruling concerns fees between 1994 and 2004 and GN said
in a statement that DPTG would file for further compensation
for fees between 2004 and 2009.

TPSA said in the statement the payout would not affect its
dividend policy but would have a negative impact on its
consolidated net profit between January and September this
year
as well as full-year 2010 results.

Following the announcement of the decision of the Arbitral
Tribunal, TPSA’s chief executive Maciej Witucki said:

“We are going to go through a thorough analysis of today’s
verdict and are determined to consider all possible legal
action to defend TP S.A.’s interest and that of its
shareholders.”

“I want to stress that this is by no means undermining our
determination to continue and execute on our medium-term action
plan, on the contrary.”

(Writing by Karolina Slowikowska; Editing by Sugita
Katyal)

Polish TPSA to pay $545 mln to GN’s DPTG, TDC-court rules