Cesky Telecom's CFO said for the Euro magazine that another impairment charge relating to the fixed line network cannot be ruled out subject to the Czech Telecommunication Office's (CTU) price ruling for 2005. No decision has been made yet. Note that CT impaired CZK 9.9 bn in 2003 based on price disputes with the CTU regarding universal services and access network. The impairment charge, however, is a mere accounting issue and should not have any impact on the company's strong cash flow. Neutral.
Tomáš Gatěk, Patria Finance