The Czech LN daily reports today that the finance ministry tolerated problems at Komercni pojistovna (e.g., the use of non-audited figures, insufficient reserves), Komercni banka’s subsidiary, in order to maximize KB privatization proceeds. The government guaranteed tender bidders in the privatization that it would not fine Komercni pojistovna for the lapses. This is not relevant news for the stock.
(Jan Hájek)