partial arbitration decision regarding TP S.A.
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Paris, September 06, 2010
On 3 September 2010, a decision was issued by an arbitration tribunal in Vienna (Austria) regarding the dispute between the Danish Polish Telecommunications Group (“DPTG”) and Telekomunikacja Polska S.A. (“TP S.A.”), a 49.79% subsidiary of France Telecom.
As a result of this arbitration decision, which covers an initial period from February 1994 to June 2004, the total amount due to DPTG is around EUR 396 million, including interest. TP S.A. is examining its options with regards to taking further legal action to counter this decision.
The second phase of the proceedings will examine the period from July 2004 to January 2009, unless the parties come to a negotiated settlement. TP S.A. will communicate as soon as possible on any further steps that will be taken concerning this issue, in particular with regards to the execution of the decision.
France Telecom has already made the appropriate provisions relative to these proceedings for which the decision was expected although the calendar remained uncertain. In addition, the potential financial impact is excluded from the Group's organic cash flow guidance for 2010 alongside all other exceptional items.
France Telecom reaffirms its commitment to pay-out a dividend of EUR 1.40 for the years 2010, 2011 and 2012.
To consult the TP S.A. press release: www.tp-ir.pl
As a result of this arbitration decision, which covers an initial period from February 1994 to June 2004, the total amount due to DPTG is around EUR 396 million, including interest. TP S.A. is examining its options with regards to taking further legal action to counter this decision.
The second phase of the proceedings will examine the period from July 2004 to January 2009, unless the parties come to a negotiated settlement. TP S.A. will communicate as soon as possible on any further steps that will be taken concerning this issue, in particular with regards to the execution of the decision.
France Telecom has already made the appropriate provisions relative to these proceedings for which the decision was expected although the calendar remained uncertain. In addition, the potential financial impact is excluded from the Group's organic cash flow guidance for 2010 alongside all other exceptional items.
France Telecom reaffirms its commitment to pay-out a dividend of EUR 1.40 for the years 2010, 2011 and 2012.
To consult the TP S.A. press release: www.tp-ir.pl
press contacts
+33 1 44 44 93 93
Bertrand Deronchaine, bertrand.deronchaine@orange-ftgroup.com
Tom Wright, tom.wright@orange-ftgroup.com
Bertrand Deronchaine, bertrand.deronchaine@orange-ftgroup.com
Tom Wright, tom.wright@orange-ftgroup.com
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