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O2 ČR shareholders approve splitting company

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Shareholders of O2 Czech Republic agreed on Tuesday to spin off the infrastructure part of the fixed and mobile telecommunications firm into a new company. The new firm, CETIN, which will not be publicly traded, contributed about 50 percent of the group’s operating profit last year. O2 shareholders will be each given one share in the new firm per one O2 share. What remains of Czech O2 will continue as a publicly-listed operator, providing voice and data services as well as television.

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