Ceske radiokomunikace (Cra) will not participate in a share capital increase in Contactel, currently 50-50 held by Cra and TDC; Cra’s stake would thus fall to 40.4%.
It is becoming likely that TDC will buy Cra’s stake in Contactel; since the equity value of Contactel is close to zero, the selling price will probably be symbolic. We see the Contactel issue to be of minor importance for Cra stock.
Jiří Soustružník