Cesky Telecom CEO Premysl Klima said yesterday that Cesky Telecom could any time resume negotiations with Atlantic West on the purchase of the 49% minority stake in Eurotel (i.e., prior to the CT privatization being completed), but suggested that such a development is unlikely. We believe it is very unlikely that the negotiations would resume before there is new owner of Cesky Telecom. The CEO also said that Cesky Telecom would continue to cut its workforce in 2002 (expected), and that he believes Cesky Telecom stock is presently undervalued (at CZK 325 per share). Neutral.
(Ondrej Datka)