The National Property Fund is to sign the sale contract for the state’s 51% stake for CZK 82.6bn or CZK 502/share to Telefonica today. Telefonica is to pay 10% of the price after four days from the delivery of the sale contract. The transaction is subject to regulatory approval from both the European Commission and the Czech Antimonopoly Office. Telefonica will have to call an obligatory buyout within 60 days after the transfer of shares. The government expects the transaction to be settled by the end of June, which means the buyout could be called before the end of August.