Zlecone: Telekomunikacja Polska’s declaration concerning the CEIS report

This is shown by the construction of the report which, as the analysis of the Polish telecommunications market, makes a reference only to our company. Moreover, there are 35 references to TP SA in a 19-page document, and a separate chapter is dedicated to the dispute between TP SA and DPTG. Meanwhile, the author of the report does not virtually refer to any other business organization, not to mention other companies present on the Polish telecommunications market.

The author of the report, Robert J. Shapiro, does not present any facts concerning the Polish telecommunications market, while creatively selecting the facts to confirm the thesis often repeated throughout the document: the dispute between TP SA and DPTG is harmful to the development of the Polish telecommunications market and has a negative impact on direct international investments in Poland. The generality level of data makes that document an unreliable report. It could as well pertain to any other sector of economy, not only to telecommunications.

Below is the complete statement of TP SA concerning the report and activity of CEIS, as published 22 April:

The press release issued by Polska Agencja Prasowa on April 22, 2011 concerning the CEIS report on international investments in Poland includes some information which require a comment from our company.

In our opinion, the report presented by CEIS, to which a reference is made by PAP, is biased, and so are the activities undertaken by the entire organization. The only objective of said activities is to force TP SA to pay a significant amount to DPTG, a Danish company who does not run any business, before the final judgment is issued by the court. These entities provide the mass media with false information that the settlement of the dispute is favorable to DPTG while the matter is still examined by two independent courts in Poland and in Austria.

Please note that TP SA never intended to act against the final judgments rendered by courts. However, we find it groundless to make any payments to a Danish company who does not run any business before the final judgment is issued. TP SA exercised its right to claim the overruling of the adverse arbitration. That right is guaranteed by the New York Convention whose signatories include the most developed countries in the world. The exercise of this right is as obvious as the appeal from a judgment rendered by a court of first instance. Therefore, TP SA will seek relief before the court, and will use any and all available legal measures to do so. In Poland, the first hearing was held in March and was adjourned for an indefinite period. In Austria, where the first hearing was also held, the next one is to be held in September 2011.

Please note the "history" of CEIS. It was established last February with the objective to "monitor the security of international investments in Europe". However, from the beginning, it focused solely on Poland and, more particularly, on the legal dispute between TP SA and DPTG. It is worth noting that the list of threats to investors in Europe presented on its website includes only one example: that of our company. Meanwhile, other countries are classified only as “good” or “bad.” The two conferences organized by CEIS (the only two held so far) were focused exclusively on Poland, too.

The theses advanced by Robert J. Shapiro (NB: a consultant in a public affairs company who deals with court disputes) are not confirmed by facts, as the alleged unfavorable investment climate in Poland is wide of the truth, if not worse. Foreign investors still have a lot of confidence in Poland. WIG 20 reached the highest level since September 2008, and we experience the highest growth of direct international investments in Poland in the last few years. This would be impossible without the involvement of investors. Note also that Poland is the regional leader of investments since its accession to the EU. The experts do not report any threats, too. Poland is continuously A-rated by Standard&Poor’s which also proves the unreliability of CEIS’s report. The stock exchange, which is the only actual reviewer of the activity and standing of Polish companies, also proves that our activities are appropriate and accepted by the investors (since the decision of the arbiters, TP SA’s quoted share price has increased by 8%, and the peak increase was even above 12%).

KONTAKT:

Wojciech Jabczyński

rzecznik Grupy TP

Telekomunikacja Polska

e-mail: wojciech.jabczynski@telekomunikacja.pl

Źródło informacji: Telekomunikacja Polska S.A.