According to HN daily, TEF O2 CR face an execution of some property due to dispute with T-Mobile CR. In 2001 T-Mobile CR requested CZK 900m from TEF O2 CR for connection fees. Court decided that TEF O2 CR has to pay. The fine with the interest increased to almost CZK 1.8bn. TEF O2 CR has 14 days to appeal. Our view: We see the news as negative as the fine is the highest that TEF O2 CR ever faced, however TEF O2 CR already created provisions for the relevant amount. The fine with the interest is CZK 5.6 per share.