Telsource readies itself for Cesky exit

27 Nov 2003

The Telsource consortium, which comprises KPN and Swisscom, is forging ahead with plans to offload its 27% stake in Czech incumbent Cesky Telecom, estimated to be worth USD860 million. The consortium plans to sell the stake to institutional investors despite efforts from the government – Cesky’s largest shareholder – to hinder the process by refusing to release commercial information on the operator to potential buyers.