Cesky Telecom: Eurotel’s CAPEX to increase by 20% in 2005 Eurotel, CT’s 100% mobile subsidiary, said that its CAPEX will increase by 20% y/y to CZK3.5bn, due to higher investments in data (CDMA and Edge) and upcoming mobile number portability. A CAPEX of CZK 3.5bn should translate into a 2005 CAPEX/Sales ratio of 12%, which is slightly below the European average. We see investments into data as positive as is it a growth area. CAPEX into mobile number portability is expected at CZK 200-400m, Source CTK, Bloomberg