Telefónica O2 CR announced in the press release that O2TV (television through fixed line), reached 10,000 subscribers. O2TV was launched in September and offers a range of TV and radio channels.
Our view: We believe that increasing number of customers using services through fixed line is positive helping the company to stop erosion of the fixed line revenues, nevertheless we do not see any impact of the news for today’s trading. We reiterate our Hold recommendation and fair value of CZK 504 per share.