France Telecom keeps financial target despite court ordering pay

08:52, September 07, 2010      

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State-owned France Telecom said Monday that an arbitration decision ordering its Polish subsidiary to pay 396 million euros (509.8 million U.S. dollars) would not hamper its financial targets this year.

The Polish subsidiary Telekomunikacja Polska SA (TPSA) would pay the sum to the Danish Polish Telecommunications Group (DPTG) over an initial dispute period from February 1994 to June 2004, according to the arbitration.

The TPSA has been in conflict with the DPTG since 1994 over sharing data volumes transported on fiber optic networks.

"The TPSA is examining its options with regards to taking further legal action to counter this decision," the French telecom operator said in a statement.

"France Telecom reaffirms its commitment to pay-out of a dividend of 1.40 euros (1.8 dollars) for the years 2010, 2011 and 2012," it added.

A second phase of the proceedings will examine the period from July 2004 to January 2009, unless the parties come to a negotiated settlement.

"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 said.

Source: Xinhua


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