WARSAW, Sept 4 (Reuters) - Polish telecom firm Telekomunikacja Polska 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 -- on the other.
GN is involved through its 75 percent stake in the Danish firm DPTG of which Danish telecom TDC 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) ($1=2.879 Zloty) Keywords: TPSA/ (karolina.slowikowska@reuters.com; +48 22 653 9725; Reuters Messaging: karolina.slowikowska.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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 -- on the other.
GN is involved through its 75 percent stake in the Danish firm DPTG of which Danish telecom TDC 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) ($1=2.879 Zloty) Keywords: TPSA/ (karolina.slowikowska@reuters.com; +48 22 653 9725; Reuters Messaging: karolina.slowikowska.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
