According to a Belgian Financial daily De Tijd, Belgacom, a Belgian telecom operator, is interested in the privatization of CT. The company has not yet requested the information memorandum. Note that Belgacom was not mentioned before as a potential bidder, hence the stock may react positively to the news. The company is also interested in privatization of the 55% state’s stake in Turk Telecom. So far, nine companies requested information memorandum including TDC, Swisscom, Telefonica, TeliaSonera and Vodafone. Investors may ask for it until January 21. Source: Reuters.Cesky Telecom to hold an EGM.
Finance Minister Bohuslav Sobotka asked the National Property Fund (NPF) to call an EGM to alter the bonuses paid to its executives. Note that last year’s AGM approved bonuses to the Board of Directors and Supervisory Board members based on the performance of CT’s share price (up to CZK 240m or CZK 0.75 per share). Sobotka does not want the bonuses to be paid to the Supervisory Board. The NPF will send a letter to the company on Friday. The meeting should be held within 40 days after the request is made. The agenda should include only the bonuses. Despite market speculations, we regard payment of a special dividend as unlikely.
Source Bloomberg