Ranní komentář 09.08. - bude to o Telecomu

  Czech market will be focus on CT and closely watch any new information relating to the privatization. Trading in KB and CEZ could continue to rise in the morning, but especialy in KB we see only limited upside potential from current levels.

* C.TELECOM - The government allegedly set limitations for the transfer of C.Tel. assets within next 3 years

- TelSource (current startegic partner in CT) is expected to negotiate with DB/TDC directly about the sale of it's 27% stake

- TDC is going to have only management control over CT and it won't own any equity in CT at the beginning.

* MACRO - Industrial Output data for June are due today at 9am CET.

* MACRO - The government approved the CZK 157 bil public finance deficit for the year 2003.