The Cabinet should discuss Cesky Telecom privatization today, after the two remaining bidders submitted their second-round bids on Friday. The Czech Press Agency reported that the TDC/Deutsche Bank/Blackstone Group consortium new bid is only slightly higher than its first-round bid (which reportedly amounted to CZK 358 per share); there were no reports of the bid from the CVC Capital Partners/Spectrum Equity Partners/Swisscom consortium. Bloomberg, citing the Wall Street Journal, says that the government’s privatization committee will advise Cabinet to accept the TDC/Deutsche Bank/Blackstone Group bid, which reportedly amounts to USD 1.8 bil. (CZK 61 bil., CZK 371 per share).
(Jiri Soustruznik)