Cesky Telecom: approval expected by tomorrow

Tomorrow is the deadline by which the European Commission should announce its verdict on the sale of Cesky Telecom to Telefonica. According to earlier press reports the European Commission has already approved the acquisition of CT by Telefonica. The market expects no postponements and a positive verdict since Telefonica has no other commercial interests in the Czech Republic. Within 10 days of the approval Telefonica has to pay the acquisition price of CZK 82.6bn and on the same day the shares will be transferred from the National Property Fund to Telefonica. Within 60 days of the settlement Telefonica has to call a minority buyout. The market will be closely watching for news or rumours regarding the buyout price. The 6MWA currently stands at about CZK 440.