At an EGM held yesterday, Cesky Telecom's main shareholders, the National Property Fund (NPF, 51%) and TelSource (27%), withdrew their proposals enabling the BoD to cooperate with TelSource in the sale of its 27% stake. They said that more time is needed to work on agreements that will allow cooperation between CT and TelSource. (Bloomberg). TelSource’s CEO, B. Kok, claimed that the result of the meeting should not cause a delay in TelSource's international offering plan. (Bloomberg). Neutral.The NPF should decide by mid-November whether it will sell an equivalent stake in CT together with TelSource or a majority stake separately later (CTK).
Jiří Soustružník