The stock was dragged up on Thursday by shares of the antivirus company Avast with a growth of 16.89 percent to 176.45 crowns. It follows from the data on the stock exchange website. The shares of the Czech company are thus responding to talks on the takeover of the company by the American company NortonLifeLock.
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Avast shares are also traded on the London Stock Exchange, the volume of today’s trades exceeded 778 million crowns.
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The PX Index includes 13 titles. Apart from Avast, only shares of Monety Money Bank and Česká zbrojovka (CZG) recorded gains on Thursday. They grew both by a quarter of a percent. Today, Monet is in second place with a volume of trades worth 143.5 million crowns.
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The most significant decline on the Prague Stock Exchange today affected the shares of the Kutná Hora cigarette manufacturer Philip Morris, whose price fell by 1.38 percent to 14,320 crowns.
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Komerční banka lost half a percent today and Erste Bank 0.78 percent, while VIG’s share price fell 0.34 percent.
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Power plant ČEZ lost 0.67 percent and ended the day at 596.50 crowns. The Stock liqueur and the builder of solar power plants Photon Energy also failed.
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Talks about the takeover of Avast on Wednesday were reported by the American economic newspaper The Wall Street Journal (WSJ), which was subsequently confirmed by both companies.
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Under UK acquisition rules, NortonLifeLock now has until August 11 to submit a firm takeover bid for Avast.
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WSJ estimated the value of the transaction at more than eight billion dollars (approximately 173 billion CZK).
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However, Berenberg analysts said it would be fair to Avast’s shareholders to value the company at least $ 10 billion. They pointed out that the value of the company is supported by the increase in the number of cyber attacks.
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Avast stated in a press release that if the transaction takes place, the purchase price will be paid by a combination of cash and shares. He noted, however, that it was uncertain whether a takeover agreement would be reached.
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Avast is a Czech multinational antivirus company that has been operating on the market since 1988. It is one of the pioneers in the field of computer security. It supplies security programs for computers and mobile devices and, according to experts, is one of the world’s best.
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Avast products are used by over 435 million users worldwide, largely free of charge.
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The company says it employs more than 1,700 people and blocks 1.5 billion computer attacks every month. The founders of Avast hold a roughly 35 percent stake in the company.
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NortonLifeLock, formerly known as Symantec, is headquartered in Tempe, Arizona.
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The company has a market value of about $ 16 billion. However, in 2019, the company sold its Symantec security software maker section, which focuses on businesses and authorities, to the American chip maker Broadcom.
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Today, the Czech currency ended the strongest against the euro this month. It strengthened by nine pennies to 25.55 CZK / EUR. Against the dollar, it improved by seven pennies to 21.62 CZK / USD.
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