Šmejc explained how the PPF will continue to grow – Seznam Zprávy

Boss Free PPF group Jiří Šmejc gave an interview to Reuters in which he described the next steps of the most influential Czech company.

Šmejc has been in charge of PPF since June 2022, and according to the original agreement, after three years, if unspecified goals were met, he would receive up to a 10% stake in the group . Now, however, Šmejc, whose fortune Forbes magazine estimates at $1.17 billion (CZK 27.4 billion), has admitted that there could be another option – a financial arrangement.

“Currently we are talking more about the second option, ie financial settlement. That is our agreement,” Šmejc told Reuters. According to him, whether he will remain at the head of the organization after three years, i.e. after 2025, is “open”.

“I like a lot of things here, so if the conditions make sense for both parties, it’s certainly something I can think about,” he answered a question about extending his involvement.

PPF is turning from eastern markets to western markets under his leadership. “We were together Peter Kellner huge fans of the global world. And it fell,” he explained the changes in May of this year.

PPF bought stakes in German television group ProsiebenSat.1, logistics company InPost, streaming service provider Viaplay and other assets.

PPF is trying to focus on its biggest businesses, and the investments it is looking for are based in these areas, said Šmejc. He emphasized the importance of business knowledge.

Šmejc said he is not satisfied with the pace of change at ProSiebenSat.1, and PPF is the second largest shareholder with a 15 percent stake. He feels that the management is not doing a good enough job. When asked about possible pressure for changes in management, he replied that it would depend mainly on the largest shareholder, which is MFE-MediaForEurope. He said the company has potential if managed well.

On the other hand, there is satisfaction with the PPF share of 28.75 percent in InPost. The company’s shares have risen by 80 percent since PPF joined in 2023. However, Šmejc said that PPF is not considering a takeover bid for the company.

The head of PPF also said that the group is now looking at specific acquisitions, including United Group. A source familiar with the situation said that United Group’s telecommunications assets in South East Europe could eventually be sold. Regarding a possible offer, Šmejc said that United Group has several assets that would fit well with the PPF business in this part of Europe.

PPF recently sell a 50 percent share as well as one share of its telecommunications assets in Central and Eastern Europe to e& from the United Arab Emirates for EUR 2.15 billion (CZK 54.3 billion). The transaction closed last month, creating the e&PPF Telecom group. Šmejc said that PPF and e& would be interested in some assets of the European Vodafone, but no negotiations are underway.

On the other hand, Šmejc denied recent Polish media reports that PPF may be interested in Poland’s TVN, a division of Warner Bros Discovery. “We have not yet made any move to pursue this fund as we have other priorities at the moment,” he said. PPF belongs to the company CMEwhich owns television groups in six Central and Eastern European countries. Includes Czech Nova and Slovak Markíza.

PPF has also not ruled out the idea of ​​merging its train manufacturing division with Talgo in Spain, although the Spanish company rejected PPF earlier this year. The business connection could work even if the company had new shareholders, said Šmejc.

The PPF investment group does business in 25 countries in Europe, Asia and North America. It invests in financial services, telecommunications, media, biotechnology, real estate and engineering. The group owns assets of 44.1 billion euros, ie approximately 1.1 trillion CZK, and employs 47,000 people worldwide.