The Czech group PPF has made an offer to the minority shareholders in O2, the incumbent telco it acquired from Telefónica earlier this year.

E15 reports that the group has also decided to exercise an option to extend the use of the name Telefónica O2 to January 27, 2019.

In addition, it has obtained an option for three further years, until the beginning of 2022. PPF brought a 65.9% stake in the telco for CZK63.6 billion (€2.3 billion) and currently owns 83% of the company’s shares.

The small shareholders, understood to number around 40,000, are each being offered CZK277 per share.

The deadline for the acceptance of the offer is from December 1 to January 16 next year.