After 10 years of litigation, DPTG - in which GN Store Nord has a 75 per cent stake, has reached a settlement with TPSA of Poland under which TPSA is to pay EUR 550 million (DKK 4.09 billion).

GN Stor Nord is to receive 75 per cent of the settlement or DKK 3.06 billion.

The payment is in settlement of a dispute in which DPTG did not receive a sufficient share of profits in a joint fibre connection in Poland.

“We are truly pleased that this protracted dispute has come to an end. We have worked diligently in the interest of the shareholders and the settlement marks an important milestone for GN,” says GN Store Nord Chairman Per Wold-Olsen.

Payment is to be made in two stages. EUR 275 million will be transferred today. The remaining EUR 275 million will be transferred to an escrow account also today, which will be released to DPTG as soon as DPTG terminates enforcement proceedings.

TDC owns the remaining 25 per cent of DPTG.

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