As expected the cabinet survived the non -confidence vote. Therefore we expect the Cesky Telecom privatization to be completed without any delays. We expect the sale of the state 51% stake to Telefonica for CZK 82.6bn to be approved by the cabinet at the regular meeting held on Wednesday, April 6.
If approved the sale contract should be signed shortly after and the transaction should be then approved by the European Commission. Once the shares are transferred, Telefonica has to call an obligatory buyout within 60 days.