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Czech PPF seeks new finance

October 15, 2014 09.12 Europe/London By Chris Dziadul

O2 TV Czech RepublicThe Czech investment group PPF is seeking a loan of CZK24.8 billion (€900 million) from O2, the country’s incumbent telco.

E15 reports that it intends to use the money to repay the loan it took out to secure a majority stake in O2, which was previously owned by Telefónica.

It adds that PPF is seeking a seven-year loan and O2 is expected to obtain the money from external sources.

PPF, which is owned by the entrepreneur Petr Kellner, acquired a 65.9% stake in Telefónica’s Czech assets, and 100% of those in Slovakia, in January this year.

The deal was worth CZK63.6 billion and Telefónica retains a 5% stake in the O2 in the Czech Republic.

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Filed Under: Central & East Europe, Finance, Newsline Tagged With: Czech Republic, O2, PPF Edited: 15 October 2014 09:12

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About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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