The Spanish concern Telefónica sold its Czech and Slovak branches to the PPF investment group, the majority owner of which is Czech billionaire Petr Kellner.
The Sme daily quoted the Bloomberg agency as saying that the deal is being prepared and will conclude next month. Telefónica is the fifth biggest telecoms operator globally and it came to the Czech Republic in 2005 and Slovakia in 2006, Sme wrote on October 29. In H1 2013 it had revenues of €102 million which is 10 percent more than a year before. It makes operational profit but is in red figures overall because of write-offs of transmitters and technologies for mobile networks.
Two insider sources confirmed the information, but neither the Madrid headquarters not the PPF group wanted to officially confirm the information about the deal.
The Spanish-based Telefónica is allegedly selling its Czech and Slovak branches to repay debts. The sale would mean no changes for the 1.5 million Slovak clients, at least in the first phase. Then, the logo and some products might change.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
30. Oct 2013 at 10:00