The Spanish telecommunications giant Telefonica announced today the sale to the PPF group of its subsidiary in the Czech Republic for an amount of 2,467 billion euros.
The stake sold to the Czech financial group, owned by the financier Petr Kellner, is 65,9 percent. More than 2 billion euros will be disbursed upon conclusion of the transaction, the remainder will be paid over four years. In Telefonica Czech Republic, however, the Spanish group will remain with a 4,9 percent stake.
The Central European company has a customer base of around 7 million mobile phones and fixed lines in the member country of the European Union, which has 10,5 million inhabitants. Last year it achieved net profits of 262 million euros on a turnover of around 2 billion euros, according to its financial statements for this year.
