PPF will withdraw O2 shares from the stock exchange in February. Shareholders will be paid by the end of April – Nach Welt

PPF on its pages The General Meeting of O2 in recent days decided to repurchase the remaining shares of PPF Telco, which owns a stake for the companies. Today, O2 shares are traded on the Prague Stock Exchange for CZK 269.

PPF also launched a share repurchase process for CZK 270. The purchase and payment of consideration will be provided by PPF banka. Ownership of the repurchased shares is to be transferred to PPF on 28 February. O2 shareholders can obtain more information on the share transfer process on a dedicated website www.akcieo2.cz.

The company’s shares, then still under the name SPT Telecom, have been listed on the Prague Stock Exchange since 1995. The operator gradually changed its names to Český Telecom and O2 Czech Republic. In 2015, the owner of the CETIN infrastructure separated from O2 and issued its own shares. These were acquired by O2 shareholders. PPF, as the majority shareholder, later bought CETIN shares for CZK 172 per security.

Following the acquisition of 100 percent of O2 shares, the PPF Group plans to fully integrate the PPF Telecom Group into its telecommunications division and withdraw it from the stock exchange. PPF Telecom Group includes mobile operators operating under the Telenor and Yettel brands in Hungary, Bulgaria and Serbia, as well as the infrastructure companies CETIN Group, which operate in the same countries and in the Czech Republic.

O2 offers telecommunications and Internet services in fixed and mobile networks to 5.97 million mobile clients and 855,000 Internet users. Last year, the operator increased its consolidated net profit by 7.1 percent to 5.85 billion crowns. The company’s revenues rose by 2.6 percent to 39.8 billion crowns.

PPF Group is active in 25 countries. It invests in a number of industries, from financial services to telecommunications, media, biotechnology, real estate and engineering. The group owns assets of 40.3 billion euros and employs 80,000 people worldwide.

Reference-www.nach-welt.com

Leave a Reply

Your email address will not be published.