Wood & Co. - zájem DT o ČTel je zajímavý i pro ČRa

CESKY TELECOM: Deutsche Telekom (DT) is reportedly interested in CT's privatization and hasoffered up to CZK 130bil (Euro). DT wasmentioned several times in the past as potential candidate for CT. There is no specification in Euro about the "CZK 130bil" figure, which we think would be the implied valuation for 100% of CESKY TELECOM. If this is the case, it translates as CZK 403.6 per share. We anticipate CESKY TELECOM to open very strong on the back of this news.

Through an SPV Deutsche Telekom holds a 61% stake in T-MOBILE CR in which CESKE RADIOKOM holds the remaining 39%. If Deutsche Telekom ends up buying CESKY TELECOM (which holds 100% of EUROTEL we believe this will be required to divest either EUROTEL or T-MOBILE CR on the back of antimonopoly ruling. This would be considered good news for CESKE RADIOKOM as it would increase the chance of realizing the value of the 39% stake in T-MOBILE CR.

All in all, we keep our positive stance for both telcos on the market.

Související zprávy:
Deutsche T. je ochoten zaplatit za ČTel 790 Kč ?!