Connect with us

Hi, what are you looking for?

Jewish Business News


02 Czech Republic Borrows to Get Bought

02 Czech Republic AS

02 Czech Republic AS, the country’s leading telecommunications company,   is making the controversial and many say risky move of taking out a sizeable loan to allow its majority shareholder to buy it out. The company is likely to borrow 31.8 billion koruna and will use the majority of that to enable Petr Kellner’s private equity company to buy out the remainder of the company.

According to Bloomberg, Richard Doyle, who owns a 0.72% stake in the 02 is unhappy with this plan; the loan means 30% of 02’s market value. Doyle told Bloomberg that shareholders would bear “the brunt of the losses”

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Kellner already asked for loans to raise his stake in the company to its current 83%. Shares of 02 have fallen 29% and it is likely to cut its dividend. In addition to its other woes, the company’s net income is likely to fall from 5.7 billion koruna to 4.7 billion this year, the lowest in 10 years.

Petr Kellner is of Jewish origin and made his fortune following the Czech Republic’s Velvet Revolution. He is currently the wealthiest man in the Czech Republic.




You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.