The Cabinet is scheduled to approve the consortium of CSFB and Ceska sporitelna (Erste Bank's 98%-owned Czech subsidiary) as its advisor in the Cesky Telecom privatization; the contract should be signed in a week. Note that the detailed privatization strategy should be submitted by the advisor in the next few months. The privatization itself is planned to start in H2 2004 and to be finished next year.
Separately, T. Valeski left his position of Eurotel CEO yesterday, i.e. five month earlier than previously indicated. The CT BoD has already short-listed several candidates for the CEO post, the Czech Press Agency reported. Eurotel's new business plan is scheduled to be presented in the next few days. As Mr. Valeski had already announced his resignation from his position as Eurotel CEO at the beginning of May after disputes between the CT and Eurotel managements, the news is unsurprising.
Jan Hajek