In line with indications earlier this week, the vice-president National Property Fund, P. Kuta, said yesterday that the privatization of Cesky Telecom will probably start next year, with its completion expected in 2005 (source: the Czech Press Agency).
As we commented yesterday, the timing of the privatization is mostly subject to the perceived demand for the state’s 51% stake from strategic investors, the above could indicate the FinMin and the NPF start to think that there would be bidders for the 51% stake already next year. The timing could be also partially driven by an emerging gap between the planned revenues and expenses of the National Property Fund (estimated at as much as CZK 52bn next year).
Jiří Soustružník