In an interview for the Czech daily Hospodarske noviny, Cesky Telecom CEO G. Berdar said the company is considering several options related to the divestiture of its buildings. In one extreme, only those expected to be attractive to investors would be offered for sale, at the other the company would attempt to sell all its premises except the buildings necessary for the company’s technological operations.
While the total accounting value of the premises is CZK 11 bil., their market value is hard to assess. At present, we believe it is reasonable to assume that the value of any proceeds from a divestiture and leasing payments for new premises would be approximately the same; the information is therefore neutral until further details are known.
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