TDC sold its stake in Bivideon to Deutsche Bank

TDC “recently” sold its 24.9% stake in Bivideon to Deutsche Bank, Bivideon holds 72% of Cra (Reuters).

This is unlikely to trigger an obligatory buy-out, since Bivideon shareholders probably acted in accordance, therefore, the transaction will not represent an effective shift of controlling rights (we note that based on an information from TDC from the last year, the ownership structure of Bivideon was 24.99% TDC, 49.99% Deutsche Bank, and Czechvalue Investments 25.02%; TDC reportedly had no relation to Czechvalue Investments). The transaction price, which is unlikely to be disclosed though, would be indicative for the estimates of the underlying value of Cra stock.

T.V.Holm - Cra BoD Chairman resigned on Friday, together with an SB member, a reflection of the above.

Jiří Soustružník