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Business

Polish mobile company elusive for Telekom

Deutsche Telekom's forceful entry into the Polish mobile communications market has run into a roadblock, according to the German telecoms giant. The 100 percent takeover of Polish mobile phone company PTC, announced last week, has failed because of disagreement among bondholders. Telekom reportedly paid €1.1 billion for the rest of PTC, in which it owned a 49 percent stake. On Friday, the telecoms company said it would hold on to its stake and its plans to take over PTC, one of Eastern Europe's largest mobile communications companies. Telekom stock dropped 0.40 percent to €12.52 following the announcement.