A chain of Austrian Baumax D-I-Y stores in the Czech Republic as well as Slovakia are reportedly to be bought by German competitor OBI. The story was reported by Czech Radio on Tuesday, citing the Austrian Press Agency (APA). According to Czech Radio, Baumax has suffered significant losses in recent years.
As representatives of the Greek government hold an emergency summit with other European Union leaders aimed at finding a way out of Athens’ debt crisis, the Czech minister of finance, Andrej Babiš, has caused consternation in his country’s coalition government by expressing the view that Greece ought to go bankrupt.
The Czech Transport Ministry has backed a plan for a railway link from Prague’s Masaryk train station to Václav Havel international airport. Under the plan, the link will run at least partially underground in Prague 6. From there, trains will continue above ground along track branching off to Kladno, outside of Prague and to the airport itself. The project is slated to cost around 18 billion crowns.
The Czech Republic does not have a rosy reputation for its past treatment of small or minority shareholders. Many have been treated poorly when ‘squeezed out’ by the majority owners. And the moves by PPF, the majority owner of telecoms giant O2, has raised suspicions they are getting a raw deal again.
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