Privatization decision postponed to November 24
The cabinet was originally expected to decide the form of CT's privatization at today's Cabinet meeting. However, FinMinister B. Sobotka plans to propose a postponement of the decision on Cesky Telecom to next week, November 24. The FinMin is endorsing a quick placement of the state’s 51% stake in 1 tranche on the stock exchange, while the privatization adviser is proposing a two-phase sale. The MinFin will hold a seminar for ministers on the pros and cons of various sale options on Friday, November 19. As most of the ministries, including the FinMin, favour a capital market transaction we believe that this is the most likely outcome and the SPO may take place even before the end of the year.
Source: Reuters
Tomáš Gatěk, Patria Finance