The Czech SEC yesterday confirmed its decision of September 2003 to reject Bivideon's voluntary public buyout offer to České radiokomunikace (Cra) minority shareholders. Recall that Bivideon (100%-owned by Deutsche Bank), which holds 72% of Cra, had intended to offer CZK 245 per share. The SEC stated that the price did not correspond to the share’s fair value. Neutral.
Jan Hájek, Patria Finance