PPF eyes O2 Czech takeover

May 22, 2014 11.27 Europe/London By Chris Dziadul

o2-bubble-logoPPF Group is now attempting to become the sole owner of the Czech incumbent, in which it acquired a 65.9% stake in November 2013 for €2,467 million.

E15 reports that that Czech group has made an offer of CZK295.15 (€10.74) per share to O2’s minority shareholders.

This is around CZK10.45 a share lower than PPF agreed to pay Telefónica when buying its stake in the telco, which has recently been renamed O2.

PPF Group is owned by Petr Kellner, one of the richest men in the Czech Republic.