WOOD Flash – O2 Czech Republic: PPF increases stake in O2 to 90.01% and intends to squeeze out the minorities
Today (24 June), PPF announced that it has acquired 19,353,910 shares in O2 CR, thereby increasing its stake in the company to 90.01%, from 83.58%. As the >90% holder in the share capital of O2 CR, PPF has announced its intention to initiate a squeeze-out procedure of the remaining minority shareholders of the company through a mandatory tender offer for the shares in the telecommunications operator.O2 Czech Republic is a provider of voice, data and other telecommunications services in the Czech Republic. Co. provides telephony services to business and residential customers, operates pay phones, provides cellular phone services, euroISDN, leased lines, Internet and data services (including internet online ISDN services which offer digital connection to the internet network), telephone equipment and other services. Co. comprises two main business segments: the Fixed segment which is telephone services using the fixed telephone network and the Mobile segment which is mobile telephone services provided by Telefonica O2 Slovakia.
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