Bivideon bid for CRa rejected

17 Sep 2003

The Securities Commission of the Czech Republic yesterday rejected a bid of CZK245 per share from the Bivideon consortium for a 28% stake in Ceske Radiokomunikace (Cra) [London: RKOM]. Bivideon, an alliance between Deutsche Bank [NYSE: DB] and Denmark’s TDC [NYSE: TLD], already holds 72% of Cra, and is keen to take full control of the operator which holds 39% of profitable cellular service provider T-Mobile CR and also runs a network of TV transmitters in the Czech Republic. Analysts have estimated that Bivideon will have to raise its bid to around CZK350 if it is to be successful.

Czech Republic