The Czech daily MFDnes reports that the Finance Ministry and the National Property Fund will submit material related to Cesky Telecom privatization to a Cabinet meeting tomorrow, May 29. The Cabinet should either cancel the current privatization tender or proceed with negotiations with the current bidder(s).
The Cabinet suspended the privatization tender at the beginning of May, citing unsatisfactory bidding. The government’s privatization committee for CT recommended a TDC/Deutsche Bank/Blackstone Group as the tender winner; its bid amounted to CZK 55 bil. for the state’s 51% stake in the company (CZK 335 per share).
(Jiri Soustruznik)