“If the Cabinet decides to sell Cesky Telecom with Eurotel, I would be interested in buying these”, said T. Valeski, Eurotel CEO in MFDnes today. He reportedly already discussed the issue with several banks and funds, strategic partner should also be involved (it is speculated that Swisscom - 49% shareholder in TelSource holding 27% stake in CT, could be interested).
At present it is unclear when the privatization will be opened again (2004/2005 seems to be most likely at present), subject to an interest of the strategic investors. The above hints on an interesting possibility, but is not a stock-moving news at present.
Separately, Cesky Telecom protests against IT Minister’s claims from the last week to introduce a flat fee Internet connection and/or lower Internet fees. CT CEO G.Berdar said that Cesky Telecom can not take steps without economical reasons, citing responsibility not only towards the state as a majority investor, but also towards the private minority investors.
While the IT ministry has no direct instrument to manipulate Cesky Telecom, it is trying to do so virtually from the very beginning of its existence. The clash between the Ministry and the management could have been expected after recent CEO change, and its opposition is welcomed from the perspective of the minority shareholders.
Jiří Soustružník