In connection with the Cesky Telecom privatization process, Reuters on Friday quoted a “source familiar with the process” as suggesting that the chances of the government selling its entire 78% stake are good, and that the indicative bids received (submitted in January) are “solid.” The stock’s performance on Friday (down 1.0% to CZK 316.30) was not influenced by this report.
The Prague Business Journal reports today that short-listed investors are expected to submit binding bids in the second half of March, and due diligence should be completed by the end February.
The Czech Press Agency reported that Cesky Telecom is interested in buying a stake in PVT (system provider), though the company has not confirmed this. Reportedly, CSOB as the biggest shareholder in PVT holds negotiations with several interested parties, CSOB holds 37% stake directly, 20% is held by its subsidiary. Neutral.
(Ondrej Datka)