Cesky Telecom will announce a restructuring program on Thursday

The Czech Press Agency reported yesterday the state will likely not use its option to seek the sale of a stake in Cesky Telecom alongside TelSource; the issue must be decided upon by Wednesday, November 12.

Cesky Telecom CEO G. Berdar is quoted in today’s Lidove noviny newspaper as saying that the company will announce a restructuring program on Thursday, November 13. The focus of the program is for Cesky Telecom to become the best operator in the region by 2005 (no further specification so far).

Eurotel’s CEO, T. Valeski, denied press reports yesterday that he discussed the financing of a possible majority Cesky Telecom acquisition with several banks and funds (Eurotel is 51% owned by CT). He nevertheless believes that there are both financial and strategic investors interested in both Eurotel and Cesky Telecom.

Also, the Czech IT minister, V. Mlynar, who is in charge of Cesky Telecom privatization, reportedly met with and discussed the privatization of Cesky Telecom with P. Kellner, an owner of Czech PPF Funds.

Jiří Soustružník