The Board of the Czech National Bank voted unanimously to hold interest rates. The primary interest rate on which the interest rate on commercial loans is derived remains at 0.25 percent. The Governor of the CNB, Jiří Rusnok, stated that, given the current situation, the urgency of considerations of a possible further increase in interest […]
By the end of November, the production of passenger cars in the Czech Republic fell by 21.2 percent year-on-year to 1.054 million vehicles. In November, production fell by almost 20 percent, while it was three percent higher year-on-year in October. According to the Association of the Automotive Industry, domestic car manufacturers have thus returned to […]
The creditors of the C2H retail group will not have the best Christmas ever. The owner of the group, Michal Mička, wrote a letter to bondholders and other creditors that the company was going to enter insolvency proceedings due to coronavirus. Of the companies in the holding, the Pietro Filipi fashion retail network is at […]
Sazka Group, part of Karel Komárek’s KKCG, saw net profits fall by 58 percent year-on-year to 90.4 million euros in the first three quarters of 2020. At the same time, gross revenues increased by four percent to 1.42 billion euros. Sazka Group’s revenue was up 66% year-on-year for the third quarter of 2020, to a […]
Billionaire Daniel Křetínský will concentrate his strategic assets, including the Energy and Industrial Holding (EPH), in the new holding company EP Corporate Group (EPCG). EP Equity Investment (EPEI) is also emerging, under which investments in minority stakes in companies with stock exchanges will be gradually concentrated. At the same time, Křetínský is in advanced negotiations […]
Foot Locker announced that it is adopting a poison pill, which comes amid a mass accumulation of the stock by Czech billionaire Daniel Kretinsky. Foot Locker announced that its Board of Directors has adopted a short-term shareholder rights plan and declared a dividend distribution of one right on each outstanding share of the company’s common […]
Petr Kellner’s PPF Group will sell its stake in the Swiss biotechnology company NBE-Therapeutics to Boehringer Ingelheim. Boehringer has acquired a 100% stake in NBE for 1.18 billion euros. It is the largest acquisition of its kind in Europe in the last ten years. PPF’s stake is around 26 percent, which would mean income from […]
The Czech internet leader Seznam.cz sent Google a pre-litigation notice demanding payment of 9.072 billion crowns in damages for restricting competition in the field of internet search services. According to the company, the damage was caused by the abuse of Google’s dominant position in the market for licensed operating systems for smartphones and applications within […]
The Office for the Protection of Competition (ÚOHS) has authorized the transfer of parts of OKD to the state-owned Diamo. The government approved the transfer in September and is part of the termination of mining in OKD mines. “The Office stated that the merger would not result in a significant distortion of competition. The acquired […]