Cra reported its 9M2004 unconsolidated CAS results on Wednesday. The results were influenced by higher VAT and high competitive pressure on the telecommunications market and the cancellation of a number of radio frequencies. Stable revenues from TV signal transmission and increased revenues from newly launched data & internet and voice services limited the rate of decline of total revenues. As a result Cra posted an operating loss of CZK 71m compared with CZK 14m profit last year. Note that Cra's majority shareholder (with 94% of shares) filed a request with the SEC for a buy-out approval at CZK 440 per share following the Cra EGM approving the de-listing of Cra's shares.
Tomáš Gatěk, Patria Finance