EC approves Telefonica Czech, Slovak sale

17 Jan 2014

The European Commission (EC) has approved Telefonica’s sale of a 65.9% stake in Telefonica Czech Republic to investment group PPF, which was agreed in November. A spokesperson for PPF told Czech News Agency (CTK) that the deal, which includes the operations of Telefonica Slovakia, shall be completed by the end of January. PPF now has to make an offer to acquire the shares of minority shareholders, although Telefonica plans to retain a 4.9% stake. The ‘O2’ brand currently used by Telefonica Czech Republic and Telefonica Slovakia will continue for a maximum of four years.

Czech Republic, Slovakia, O2 Czech Republic (incl. CETIN), O2 Slovakia, PPF Group, Telefonica