Following news reports that Deutsche Bank/TDC, the CTel privatization tender winner, will buy the state’s 51% stake in CTel via C-Tel (a vehicle created specifically for privatization, which is incorporated in the Czech Republic), the Czech Press Agency today reports that several banks, including JP Morgan, Citibank, and ING, have already made a preliminary agreement on syndicated financing of the transaction.
Separately, M. Simonovsky, the transport minister, said yesterday that the Cabinet shall require payment for the state’s stake before it is transferred to the new owner.
Jiri Soustruznik