KPN of the Netherlands reportedly sold its 6.5% stake in Cesky Telecom (approx. 20.87 mil. shares) to Credit Suisse First Boston at a value of CZK 339 per share, Reuters reported yesterday. No further details were released. Cesky Telecom stock fell by 6.7% to CZK 340 yesterday following the report.
Before the report, Cesky Telecom’s free float was 15.5% TelSource, in which KPN holds 51%, owns 27% in Cesky Telecom (KPN thus indirectly holds another 13.8% in Cesky Telecom); the Czech government holds a 51% in Cesky Telecom.
Jiří Soustružník