Deutsche Telekom claims ¤12,5 Million from Teligent AB

10/1/2008, 8:32 AM (Source: GlobeNewswire)
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

View document
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.