Hospodarske novny daily brought an interview with TEF O2 CR’s CEO Jaime Smith, which focused solely on the company’s re-branding to O2. The interview did not bring any news and Smith did not provide any details regarding details of re-brandings costs (10% of total integration costs). Integration of the fixed and mobile arm should be completed from 90% by 2009.
Our view:
The interview did not bring any new details regarding O2’s intergration/re-branding costs nor any hints related to O2’s dividend policy. We expect O2’s share price to be driven by the CZK45 dividend per share as the last trading day with the right to receive a dividend is on September 25 and September 20 under the T+3 settlement.