The Prague MFDnes newspaper reports today that the two top bidders in KB — Societe Generale and UniCredito — made bids in the vicinity of CZK 35 bil. to CZK 38 bil., implying a range of CZK 1,535-1,666 per share. Of the other two bidders, HypoVereinsbank reportedly submitted a slightly lower bid, with Credit Agricole submitting the lowest. The MFDnes report is based in information from a source “close to the privatization committee.” The Czech weekly magazine Euro reports a wider range of bids from the top two, namely between CZK 33 bil.–-38 bil. (CZK 1,447–1,666 per share). Previously, unofficial reports had cited the top bid at CZK 40 bil. (CZK 1,750 per share).
Goldman Sachs, the privatization advisor, should make its recommendation to the privatization steering committee, the evaluation could be completed by the end of next week, according to earlier statements by Finance Minister Jiri Rusnok. Cabinet should then approve a tender winner. Separately, the Ministry of Finance on Friday officially denied earlier reports that Credit Agricole had withdrawn from the KB tender.
(Ondřej Daťka)