Three telcos shortlisted for Cesky; bids at the upper end of expectations

8 Feb 2005

On Monday the Czech government accepted bids for a 51% stake in former fixed line monopoly Cesky Telecom from Swisscom, Belgacom and Telefónica. In addition, two financial consortia placed bids but were told they must partner a telecoms operator in order to proceed further. Three other potential buyers – France Telecom, TDC and Vodafone – all failed to submit bids but are still eligible to rejoin the tender if they join one of the bidding financial consortia. The bids ranged from CZK71.3 billion (USD3.05 billion) to CZK60.9 billion; the latest stock market valuation of the stake is CZK66 billion.

Meanwhile, Belgacom also announced on Monday that it had retracted its interest in the sale of a 55% stake in Turk Telecom, stating that the Turkish state-owned operator was not a key strategic priority.

Czech Republic, O2 Czech Republic (incl. CETIN), Proximus, Swisscom, Telefonica