Business

CTU To Launch 5G Auction In November

The auction for fast 5G mobile networks will start in the first half of November, according to the CTU. All seven applicants who have applied will be able to take part in the competition. “Although we expect the active phase to end by Christmas at the latest, due to the legislative deadlines, the allocations will […]

MIRA Acquires CEZ’s Romanian Assets

CEZ Energy Group has sold most of its Romanian assets to Macquarie Infrastructure and Real Assets (MIRA). The companies have signed an agreement. The deal is subject to the approval of the European Antitrust Authority and the Romanian State Security Council. The company did not disclose the price. The sale includes a total of seven […]

Sev.en Energy Fast Tracks Acquisition Of CEZ’s Pocerady Plant

Pavel Tykac‘s Sev.en Energy group will take over the Pocerady brown coal power plant from CEZ by the end of the year. It will become the new owner three years earlier than initially planned. The original agreed-upon price of two billion crowns for the transfer in 2024 increased to 2.5 billion crowns.  They agreed to […]

Avast Headquarters
Avast Sees Revenue And Profit Rise

The antivirus company Avast increased its operating EBITDA by 2.5 percent to $367.3 million in three quarters. Revenues rose 7.3 percent and 1.9 percent to $659.1 million. The Group confirmed its full-year outlook, with adjusted sales at the upper end of the average single-digit growth. According to Avast, the Board of Directors is aware of […]

Petr Kellner
Journalists Call On Petr Kellner To Uphold Press Freedom

Several journalists organizations, including the International Press Institute (IPI) and Reporters Without Borders (RSF), have written to Petr Kellner calling on him to publicly commit to uphold media freedom and respect editorial independence, regardless of political or financial pressures. Kellner’s PPF group has become the new owner of Central European Media Enterprises (CME), which includes […]

Skoda Auto production line
Skoda Auto’s September Car Sales Up

Volkswagen and its the Czech subsidiary Škoda Auto saw sales grow in September after suffering through a long drawn-out coronavirus slump. The Volkswagen Group sold 933,600 cars, which is 3.3 percent more year-on-year, while Škoda Auto then increased sales by 2.6 percent to 104,600 vehicles. The group stated this in today’s press release. However, while […]

CSG Sells Its Stake In New Space Technologies

Michal Strnad’s Czechoslovak Group (CSG) sold its 60 percent majority stake in New Space Technologies s.r.o. to its co-founder, managing director, and current holder of a 20% stake, Ivo Kryl. The parties did not disclose the transaction price. CSG will continue to work with New Space Technologies. New Space Technologies s.r.o. (NST) is an innovative […]

EPH Reports Strong Performance Despite Pandemic

Despite the pandemic, Daniel Kretinsky’s Energetický a průmyslový holding, a.s. (EPH) was successful in the first half of this year. It increased sales to 4.2 billion euros (approximately 115 billion crowns) compared to 3.9 billion euros in the previous year’s first six months. Operating profit recorded a slight decrease to 616 million euros (about 17 […]

Petr Kellner Tops Forbes List Of Richest Czechs

According to Forbes’s annual ranking of the richest people, Petr Kellner, the majority shareholder of PPF Group, is the wealthiest Czech with 293 billion crowns. However, he was the only one in the top ten to see his fortune shrink since last year, after shedding 57 billion crowns as Home Credit struggled in the first […]