Cesky Telecom, the 51% stakeholder in Eurotel, and Eurotel minority shareholders AT&T and Verizon Communications have reportedly reached an agreement on the sale of the minority 49% stake in Eurotel to Cesky Telecom, the Czech daily Mlada fronta dnes newspaper reports. An announcement is expected at 6:00 pm CET today. Cesky Telecom (CTel) is expected to pay less than the previously agreed price of USD 1.285 bil.
CTel’s board of directors is scheduled to discuss the takeover of the stake in Eurotel at a meeting today, at which the June 13 AGM agenda should also be discussed. The AGM (the record date is June 11), is expected to discuss the takeover of the 49% stake in Eurotel (including the method of financing), a dividend policy, and the distribution of 2002 profits.
Jan Hájek