PPF Group ups O2 Czech Republic stake to 83.15%

31 Oct 2014

Investment group PPF, owned by the Czech billionaire Petr Kellner, has increased its stake in domestic fixed and mobile operator O2 Czech Republic to 83.15% (voting rights), according to a central bank filing published yesterday. A separate filing showed that UniCredit Bank reduced its O2 Czech Republic holding to 0.13% from 5.68%.

PPF Group agreed a deal to purchase a 65.90% stake in the Czech operator from Telefonica of Spain in January this year and subsequently acquired an additional 7.16% via a buyout of minority shareholders in July. Its latest increase moves Kellner’s firm closer to the 90% threshold he needs to enforce a mandatory squeeze out of the remaining minority shareholders.

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