According to the Hospodarske noviny daily, a final decision on the Cesky Telecom privatization should be made by December 15 as stated in the Cabinet's draft proposal. Individual ministries are now debating the privatization form while the current proposal favours a capital markets transaction. Note that the privatization committee also recommended a capital markets transaction last week. The Cabinet should decide on the privatization form at its meeting on November 15 while the Ministry of Finance should then prepare a detailed description and timetable for the selected method and submit it to the Cabinet by mid-December.
Separately, the Cesky Telecom Board of Directors replaced two statutory representatives of Eurotel at a meeting held on November 1.
Tomáš Gatěk, Patria Finance