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Impact on Cesky Telecom

29.03.2005 9:21

The PM, Stanislav Gross, said that he wants to speed up the privatization process and is ready to call an extraordinary Cabinet meeting to make the decision even before the vote of non-confidence. Gross also mentioned that the price will be above the market expectation (CZK 444 / share). Note that the final bids are due today, i.e. March 29. Originally the Cabinet was expected to make its decision on the winner/capital markets transaction at its regular meeting on Wednesday, April 6.

Some members of the privatization committee and the cabinet have spoken against the speeded up privatization, as it would not give enough time for the privatization committee to study the bids. Note that the opposition party, ODS, supports privatization via capital markets.

Váš názor
  • Speeded privatization plans
    29.03.2005 16:04

    Is anybody really surprised by the pressure to privatize CT faster ? Now that Gross knows his days in office are numbered, the gvt wants to privatize asap to make sure that the team currently in power, their convenient advisors and the other shadow groups thrown in the process to advise, support and facilitate the processes, get the rewards they all have been drewling on for the last 12 months. To delay would see that money go to others.
    Max Poker
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