Czech government rubber stamps Cesky sale

12 Apr 2005

The sale of the state’s majority 51.1% interest in national PTO Cesky Telecom to Telefónica of Spain has been approved by the government, and now passes to the relevant bodies within the European Union for final ratification. Confirmation of the sale is expected to be received in the summer.

Cesky’s privatisation has been a long-running saga. At the start of April 2005 the process was close to being derailed once again pending the result of a vote of confidence in the incumbent Czech government. However, Prime Minister Stanislav Gross and his coalition clung onto power in the face of stern opposition from a right-wing opposition coalition headed by the Civic Democrats and Christian Democrats, allowing the sale to continue.

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