PPF won't take part in upcoming LTE auction due to merger ban which makes no economic sense with respect to “dramatic” changes to telco market, according to PPF. The news should be positive for Telefonica CR unless other bidder(s) beside current incumbents join the auction. There also may be again speculations TEFO2 (300,9 CZK, 3,05%) could be taken over by PPF group, which could also provide some support for the stock before ex-div date on Oct-10 (next Wednesday)