According to HN daily, Goldenfrazil once again raised the question about sell-off of Kaucuk. Goldenfrazil refers to the AZET Konzul, independent expert, which estimates the value of Kaucuk in amount CZK 8-9bn, while Polish chemical company Dwory offered in the first phase CZK 4.1bn.
Our view:
It is another step of minority shareholder to defend its rights and change the possible outcome of the sell-off process. Although the estimated price is significantly higher than Dwory's offer it is necessary to take into account also possible long-term contracts provided by Dwory. We don't expect this news to have significant negative trading impact today.