PPF Group completes voluntary buyout of O2 CR, reaches 90% threshold in CETIN

14 Aug 2015

Czech entrepreneur Petr Kellner’s financial group PPF, which holds an 84.91% stake in the country’s incumbent PTO O2 Czech Republic, has confirmed that following a voluntary buyout offer of minority shareholders in the group’s infrastructure arm Ceska Telekomunikacni Infrastruktura (CETIN), it has reached the 90% threshold needed to trigger a mandatory buyout of the unit. Whilst privately held PPF has confirmed it will not attempt to raise its stake in O2 Czech Republic to over 90%, it will consider a squeeze-out of minority shareholders in CETIN.

In June this year, PPF Group launched a buyout offer for all minority shares held in O2 Czech Republic and CETIN – a process that ran until 13 July 2015. The firm, which acquired a majority stake in O2 Czech Republic in January 2014 from Spain’s Telefonica for CZK63.6 billion (USD2.59 billion), offered CZK78 and CZK176 per share for O2 Czech Republic and CETIN respectively. In an interview at the time, PPF chief financial officer Katerina Jiraskova suggested that the group’s strategy vis-a-vis the telco was still under discussion, but did confirm the long term goal ‘to squeeze out minority shareholders of CETIN and integrate the firm into PPF’.

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

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share