Telefonica O2 CR informed in pres release that company registered 3,500 customers of O2 TV and plans to at least double this number by the end of November. TEF O2 CR launched O2 TV in the beginning of September. O2 TV offers movies and range of TV and radio channels though fix line.
Our view: We believe that new launched services can slower fix lines decrease, however we do not expect any impact to share price. We reiterate our Hold recommendation for TEF O2 CR and fair value of CZK 507 per share.