Czech government finally set to decide on Cesky Telecom sale

The Czech government is due to decide on the method of the much-delayed privatisation of the dominant land line operator Cesky Telecom on Wednesday. The sale of the state's 51 percent stake in the company is expected to raise around 2.0 billion euros in what will be the largest privatisation of Prime Minister Stanislav Gross's government. A major cabinet split on which method to choose has only further delayed an already-protracted process. A majority of ministers, including Prime Minister Gross and Finance Minister Bohuslav Sobotka, favour a flotation on the capital markets but several ministers, including Information Technology Minister Vladimir Mlynar, say selling to a strategic investor would be a better long-term option for the company.