Netla Management Ltd., Ceske radiokomunikace's (Cra) minority shareholder (3.3%), announced yesterday that it intends to initiate an EGM at Cra in an attempt to get more information on the recent sale of CRa's 50% stake in Contactel and on restructuring steps in the company. We would expect little new information from such an EGM, though.
Interestingly, Netla also said that it would consider making a voluntary public buyout offer to CRa minority shareholders should the price in the voluntary buyout offer planned by Bivideon (a Deutsche Bank/TDC venture, which owns 72% in CRa) prove too low relative to the stock's fair value. While such a watchdog role on the part of Netla is generally encouraging for minority shareholders, we expect little of substance from either initiative.
Jan Hajek