French media giant Vivendi had a legal setback last week in Seattle, of all places. Vivendi had filed a civil lawsuit against German telco Deutsche Telekom in Seattle two years ago over a 48 percent equity stake DT bought in Polish wireless carrier Polska Telefonia Cyfrowa. Vivendi had been seeking $7.5 billion via the suit, but the Seattle court said last week that the case is out of its jurisdiction.
This battle dates to 1999, when Vivendi said its struck a deal with Elektrim, a Polish company that would later come to be controlled by Zygmunt Solorz-Zak, to form a joint venture to own 51 percent of PTC. DT, which held a minority stake in PTC at the time, challenged that agreement and later bought the piece of PTC owned by Solorz-Zak. Vivendi and DT apparently have been chasing one another across continents ever since.
- see this story at The Wall Street Journal