The richest Czech, Petr Kellner, is taking over the country’s most popular TV station, Nova. The purchase of Nova operator CME by Kellner’s PPF Group will also give it control of a number of other channels in the region. However, critics say the move is politically motivated and have warned of a new danger to press freedom. Among those voices is Josef Šlerka, director of the Foundation for Independent Journalism.
Škoda Transportation has been confirmed as the winner of a tender to
supply of up to 45 six-car metro trains for Warsaw.
The first set is due to be handed over to the Polish capital within two years of signing the purchase contract.
Škoda Transportation is part of the PPF group controlled by Czech billionaire Petr Kellner. The total value of the contract is almost 8 billion crowns.
O2 Universum, a major new multifunctional hall is set to open for the first
time this Thursday in Prague, with a concert by the popular Czech rock band
Kabát. The 50,000 square meter complex neighbours the 02 Arena, Prague’s
biggest venue of its kind. The O2 Universum contains a number of halls, the
largest of which has a capacity of 4,500. Its facilities will be used to
host conferences, concerts and sporting events.
The facility is owned and run by Bestsport, a company which is part of PPF, the financial and investment group owned by billionaire Petr Kellner.
Czech financial group PPF’s global consumer lender arm Home Credit has
filed for a listing on the Hong Kong stock exchange, the company announced
Home Credit has appointed Citigroup, HSBC Holdings, and Morgan Stanley to lead the initial public offering expected to exceed at least USD 1 billion.
Founded in 1997 by Czech billionaire Petr Kellner, Home Credit operates in 10 countries including the United States, Russia and India. It is among the biggest non-bank consumer lenders in China.
Biotech companies within the PPF Group, controlled by Czech billionaire Petr Kellner, are reporting advances in efforts to extend the lives of cancer patients. The companies Sotio and Cytune Pharma announced on Thursday that they had started the first trial dosing of cancer patients with SO-C101, a superagonist fusion protein of interleukin IL-15.
The EPGC investment group owned by Czech Daniel Křetínský and Slovak
Patrik Tkáč, has submitted a public offer for the German business group
Metro. Reuters reported that EPGC had said in a press release that it was
offering amounts for shares that valued Metro at EUR 5.8 billion.
The bid is contingent on EPCG reaching sufficient shares to take control of Metro, a spokesperson for the former said.
Reuters said the investment was part of Mr. Křetínský’s strategy of diversifying his holding into the food and retail sectors. He already owns the tabloid Blesk and Sparta football club.
Ahead of the 30th anniversary of China’s crackdown on peaceful pro-democracy demonstrators in Tiananmen Square, Radio Prague spoke to Filip Jirouš, coordinator the China-watching think tank Sinopsis, about the politics behind some of the more controversial aspects of business dealings between the countries. A harsh critic of China’s sweeping Belt and Road Initiative, to which the Czech Republic has signed on, and the main Chinese investment vehicle here, CEFC, he further argues allowing Huawei to roll out the 5G network would be a disaster.
The Czech government wants to impose a seven-percent tax on large digital
companies, such as Facebook and Google. Under the plan, agreed by the
cabinet on Tuesday, the multinational companies would have to pay taxes in
the place they make earnings.
The cabinet is hoping the move could lead to increased revenues of around five billion crowns a year. The Ministry of Finance is due to draft a digital tax bill by the end of May.