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Teligent AB (STO:TGNT) Teligent AB has received a claim for damages from Deutsche Telekom amounting to €12,5 Million.
The delivery to Deutsche Telekom has been one of the largest projects in Teligent's history. Once it became clear that Teligent AB would not be able to secure the planned financing and thus would apply for company reorganisation according to the law on Company Reorganisations, Deutsche Telekom was informed that Teligent would not be able to fulfill its contractual obligations. The claim for damages presented is based on contractual relations that have been agreed on before the reorganisation was initiated and therefore the claim will be part of a possible public composition, later this autumn. Teligent intends to initiate negotiations regarding the claim.
"Without the necessary financing, Teligent has not been able to fulfill its obligations towards Deutsche Telekom. This is regrettable but a fact", says Henrik Sund, CEO of Teligent. "The size of the claim for damages could jeopardize the whole reorganisation process", says the company reorganiser, laywer Roland Sundqvist.
For more information, please contact
Henrik Sund CEO Teligent AB Tel. +46 8 520 660 00
About Teligent Teligent (TGNT, Stockholm Stock Exchange) is a global supplier of value added services to telecommunications carriers. The offering includes e.g. traditional and Next Generation Messaging and advanced IN solutions supporting data capabilities, such as Mobile Office/IP Centrex, Mobile Prepaid and Mass Calling. The company's solutions are currently utilised in various configurations by a large number of leading carriers worldwide, including BT, MTS, Maroc Telecom, SingTel, SMART, Telenor, TeliaSonera, Verizon and Vodafone. For more information, please visit www.teligent.se
