Daniel Kretinsky’s EP Global Commerce (EPGC) will increase its stake in Metro to more than 37 percent from its current 29.99 percent. EPGC tried to take over Metro last year and this year, and even before today’s announcement, it was the company’s largest shareholder. EPGC accepted an offer to repurchase 7.1 percent of common stock ...
Petr Kellner’s PPF Group reports losses of EUR 384 million in the first half of this year. A year earlier, the company earned 573 million euros. The group’s total assets decreased by EUR 5 billion year-on-year to EUR 44 billion. “It’s a nominally large number, but it needs to be seen in context. Last year’s ...
Energo-Pro has begun operating two new hydropower plants, the Karakurt and Alpaslan 2, in eastern Turkey. Capping the largest Czech investment in hydropower since November 1989, the project’s total investment exceeds $800 million. The new dam with the Karakurt hydroelectric power plant is located in the Aras river basin, Alpaslan 2, on the Murat River. ...
PPF Group, owner of Skoda Transportation in Pilsen, has acquired a 50 percent stake in Temsa, Turkey’s leading producer of buses and light trucks. According to the Pilsen company, the acquisition was closed last week. Škoda Transportation is now preparing a business and product strategy for mutual cooperation in individual markets. The Turkish market is ...
The European Commission (EC) has come to the preliminary conclusion that Czech Railways (ČD) violates antitrust rules by charging prices below costs. The commission has sent a formal Statement of Objections to the carrier. ČD faces fines of up to ten percent of its annual turnover. Which according to the company’s annual report was four ...
Skoda Auto’s operating profit fell by 60 percent to 469 million euros in the first nine months of this year. The negative impact on the economy was mainly due to lower sales volumes caused by the covid-19 pandemic, and extraordinary expenses related to emissions regulations. However, lower fixed costs partially offset these losses. The automakers ...
The Bulgarian Antimonopoly Office has approved the sale of CEZ’s Bulgarian assets to Eurohold for 335 million euros. The office took up the matter after the administrative court overturned its decision last year, which blocked the transaction. CEZ and Eurohold signed an agreement on the sale of assets last June. The transaction has yet to ...
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 ...
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 ...
