Yesterday Patria downgraded its recommendation for České radiokomunikace to sell from hold and upgraded the stock value estimate to CZK 453 per share, up 10% from its previous CZK 414. The planned buy-out of shares from minority shareholders at CZK 440 per share by Bivideon can be considered by minority shareholders as a preferable option, we believe, as minority-abuse fears, a lack of transparency and credibility have been among the major determinants of the share price recently.
Jan Hajek