PPF Group sells 3% stake in O2 Czech Republic to Belviport Trading

17 Feb 2017

PPF Group, a privately held international financial group owned by Czech billionaire Petr Kellner, recently sold a 3% stake in fixed and mobile operator O2 Czech Republic to Belviport Trading, a vehicle owned by Czech investor Pavel Tykac. In a brief statement, O2 CR said the sale transaction is designed to support liquidity and free float, which has increased to 17.4% excluding treasury shares. ‘In this regard, the price agreed for this transaction does not reflect the fair value of O2 shares as perceived by PPF,’ the group said. Jan Chudomel, a spokesman for Mr Tykac, said that the offer was ‘a good opportunity to enter the stock given its 8% dividend yield and the company’s stable performance,’ Reuters reported. The PPF Group now holds an 81.10% equity stake after the transaction and has said it has no further plans to sell shares in the short term. Belviport Trading now owns a 3.92% stake in the operator.

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

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