European car sales fell by 32 percent in the first eight months of this year. The number of new car registrations fell by 5.7 percent in July alone and by 18.9 percent in August, according to the European Automobile Manufacturers Association (ACEA). The decline in sales in July and August slowed markedly from previous months, […]
Jaroslav Strnad’s Czechoslovak Group (CSG) has acquired a stake in the Prague Fertility Centre, a leading innovator in infertility treatment. CSG bought the shares from the center’s co-founder, Dr. Sonja Lazarovská. Financial terms were not disclosed. The centre founded in 2009, has delivered over 5,000 babies. “We perceive the acquisition as an interesting investment opportunity, […]
The winner of the five-billion tender of the state enterprise Lesy České republiky (LČR) for forestry work and the sale of wood for 2021 to 2025 is the mining company Uniles which is owned by Agrofert. In the 2021+ tender, Uniles submitted the best price offer for twelve of the 29 competing units and has […]
Thirty-six companies submitted bids for the CZK 5 billion tender of the state-owned Lesy České republiky (LČR) for forestry work, logging, and wood sale the years 2021 to 2025. Last year, 32 companies applied for the 2020+ tenders. In tender 2021+, the estimated value of forestry work is CZK 4.5 billion, and the volume of […]
The Municipal Court in Prague has rejected T-Mobile’s motion for a preliminary injunction that would stop the auction of frequencies for 5G networks due to illegal support. The court did not find any competition issues in national roaming conditions. “We do not want to comment on the requests for interim measures submitted to us and […]
CEZ Group officially launched the divestment process for its five Polish companies today. Among them are the Skawina and Chorzów coal-fired power plants, which are also heating plants. It is part of a strategy that the company approved last year. After receiving written confirmation of investors’ interest, ČEZ will invite them to submit a non-binding […]
Huawei has failed to obtain a security clearance from the Czech National Security Office that is needed to compete for state tenders. The company is now considering requesting a lower level of security verification. In 2018, the National Office for Cyber and Information Security (NÚKIB) warned against Huawei’s software and hardware use. According to the […]
Daniel Kretinsky has launched a new takeover bid for Metro AG. Kretinsky’s EP Global Commerce announced their voluntary public takeover offer for shares in the German company in a notice on its website. Křetínský, who is acting in concert with his long-time business companion Patrik Tkáč, wants to take over all ordinary shares and all […]
Sazka Group, one of Europe’s largest lottery and gaming operators, reports profits fell by 71 percent in the first half of the year to 42 million euros. Gross gaming revenues fell by 28 percent to 651.9 million euros. “The decrease was largely due to measures against the spread of coronavirus when we closed part of […]