Wood & Co. - komentář k prodeji nemovitostí ČTel

Analytici společnosti Wood & Company ve včerejším souhrnném komentáři odhadují jaký by mohl být faktický dopad avizovaného prodeje nemovitostí společnosti ČTel na jeho hospodaření.

"CESKY TELECOM (CT) is reportedly preparing the sale and lease-back of some of its real estate assets in the book value of CZK 11bil. CT indicated that not all of these assets will be leased back. According to some real estate agents on the market, the market value of these assets could be around CZK 20bil. If this would be the case, we estimate an extraordinary profit from the sale up to CZK 9bil less 28-26% capital gain tax to be booked in 2004/05 P&L. (CZK 9bil minus capital gain tax = CZK 6.6bil = CZK 20.4 per CT share). On top of this gain, CT would increase free cash flow substantially in 2004/05, assuming that the total sum would be collected in cash by end-2005. Our buy recommendation is maintained for CT."

Kompletní souhrnný komentář naleznete ZDE (formát PDF)

Související zprávy:
ČTel chce prodat budovy v tržní hodnotě až 20 mld.