PPF likely to delist Telefonica Czech Republic and buy out minority shareholders
The Czech financial group PPF is likely to delist Telefonica Czech Republic, Hospodarske Noviny reported, without citing sources.
The Czech-language item speculated that such move would be advantageous for PPF, which has recently acquired a 66% stake in Telefonica. This move would avoid shareholders’ scrutiny and give PPF more freedom to look for a strategic partner, if it decides to do so.
The item said, this time citing Czech financial analyst Josef Nemy, that PPF will try to buy out minority shareholders and the likely price might be around CZK 303 per share.
The item also speculated that in case Telefonica is delisted, a new IPO might be launched, once PPF restructures the company. However, the report added that PPF might also opt for a strategic partnership or JV for Telefonica, as in the case with Ceska pojistovna (owned by PPF) and Generali.
Source Hospodarske Noviny