Financial daily: in '05 Czechs bought record number of companies abroad

The Czech financial daily Hospodarske Noviny has reported that in 2005 Czech companies acquired a record number of foreign firms outside the Czech Republic - a total of twenty-five - up from eight the previous year. The news is based on a new study by PricewaterhouseCoopers consulting. The largest Czech firm to acquire control in foreign companies last year was the energy giant CEZ, investing largely in the Balkans, followed by Zentiva pharmaceuticals, and Agrofert chemical group. The largest number of acquisitions came in neighbouring Slovakia. In total, Czech firms spent 700 million US dollars to buy into the foreign companies.

Author: Dita Asiedu