Today the Czech Parliament should decide about the future of TV advertising in the country. Social democratic MP Petr Rafaj asks for returning advertising on state TV to last year's 1% (currently 0.5%). Rafaj added the rider on TV ads as an amendment to the totally unrelated banking bill.
Our view: We do not expect that the chamber would pass the amendment, as the opposition ODS party stated that it would not support it. Also the way, in which the TV ad amendment is presented, is not a standard one and was not properly negotiated. We believe that news will not impact today's trading with CME and reiterate our rating Buy for the stock.