Government reveals new Cesky Telecom sale plan

22 Sep 2003

The Czech government has revealed that it is considering selling a minority stake in former monopoly operator Cesky Telecom, if there are no buyers for its entire 51% stake. The state says it is ready to privatise the company, but has not seen much interest since the last attempt to sell the 51% stake to a consortium of Deutsche Bank and TDC last December. Another option being considered by the government is to sell off the telco’s mobile arm Eurotel which has generated more interest than its parent from potential buyers. Meanwhile, Cesky Telecom’s minority shareholder Telsource has revealed plans to dispose of its own 27% shareholding to international investors. The company has called on the board of Cesky Telecom to hold an Extraordinary General Meeting of Shareholders.

Czech Republic