The 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.
