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Czech News in English » Business » PPF to divide O2 ČR into two firms

PPF to divide O2 ČR into two firms

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O2 CR’s board of directors has approved the division of the firm in two. A new company, called Česká Telekomunikační Infrastruktura, will be floated from O2 CR. The nominal value of the shares will be reduced from current CZK 87 to CZK 10 per share. O2 ČR’s shareholders will receive one share in the new company to each share in O2 CR that they hold. Česká Telekomunikační Infrastruktura’s shares will not be traded on the bourse. The floated company will acquire all assets and liabilities of eth Infrastructure and Wholesale division. ČTI will assume the fixed network and mobile network infrastructure, switchboards, supervisory centres, information systems, databases and data centres, incl. buildings. The floated company’s board of directors will consist of Petr Slováčk, Michal Frankl and Ladislav Chvátal. The supervisory board will feature Robert Čevela, Kateřina Jirásková and Lubomír Král. The division is subject to approval by shareholders on the general meeting.


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