“Not that it is official, but they are not completely out of these reports,” Mlynář wrote.
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According to Bloomberg, PPF would want an offer that values the entire company at 6.7 billion euros (147.4 billion crowns). This is significantly more than the previous estimate, which valued the company at 4 million euros (88 billion crowns).
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PPF has confirmed to Bloomberg that it is considering selling part of the stake through a public offering on the stock exchange. However, the speakers did not want to comment on the possible evaluation of the company or other sales variants.
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The two-month analysis could result in an initial public offering (IPO), presumably on the Amsterdam Stock Exchange, Bloomberg added. Initial Public Offering (IPO) is a designation for listing on the stock exchange, when the company first offers shares to the general public.
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CETIN operates telecommunications networks and infrastructure in the Czech Republic. Last year, it reduced its net profit by 11 percent to 2.5 billion crowns. The company’s revenues fell by 1.6 percent to 18.9 billion crowns.
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PPF investment group Petr Kellner owns 100 percent of CETIN shares. Together with the operators O2 and Telenor, the company forms the telecommunications division of PPF Telecom Group. Last year, it increased its net profit by 16.1 percent to 432 million euros (about 11.3 billion crowns).
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CETIN Group combines the entire telecommunications infrastructure of PPF Telecom Group. In addition to the Czech CETIN, it also consists of CETIN Bulgaria, CETIN Hungary and CETIN Serbia.
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