Belgian company Delhaize has sold its Delvita grocery stores in the Czech Republic to German retail group Rewe AG for 100 million euros ($128 million/2.8 billion Kč), the company announced Nov. 13. Rewe operates Billa supermarkets and Penny Market discount stores in the Czech Republic. Delvita sold its Slovak stores to Rewe, while posting a loss of 1.5 million euros in 2005.

REGISTERS

President Václav Klaus signed a bill that postpones the introduction of mandatory monitored cash registers for businesses by one year, Klaus' spokesman Petr Hájek told the Czech News Agency Nov. 9. Industry and Trade Minister Martin Říman said he would try to gain support to cancel the law next year. The Social Democrats pushed through the law as way to prevent tax evasion.

BUDWEISER

The Portuguese Patent Office ruled Nov. 9 that Czech brewery Budějovický Budvar is entitled to use the Budweiser Budvar trademark in Portugal, after a seven-year registration process. U.S. brewing giant Anheuser-Busch filed an appeal against the verdict of the European Court of Human Rights. The two breweries are involved in nearly 110 legal disputes around the world.

PLANT

Hyundai Motor Manufacturing Czech expects to launch construction of its plant in Nošovice, north Moravia, in late February or early March, company spokesman Petr Vaněk said Nov. 8. Construction was to begin in December, but the company cannot meet the planned deadline due to zoning delays. Vaněk said the delays would not jeopardize the launch of car production in 2008.

EURO

The Czech Republic may adopt the euro in 2012, Labor and Social Affairs Minister Petr Nečas said Nov. 12. He said this is the closest date that the country could carry out the necessary pension and public finance reforms. The country abandoned its target date of 2010 for euro adoption last month. An official date for changing currencies has not yet been set.

CODE

The new Labor Code will likely take effect Jan. 1 as scheduled, Nečas said Nov. 13. Unions rejected a proposal to postpone implementing the code until April 1. Nečas says the code has more than 80 flaws, including provisions that are clearly unconstitutional. The code will raise state budget spending by 7 billion Kč due to increasing wages.

IPO

Luxembourg-based real estate developer ECM will hold an initial public offering (IPO) on the Prague Stock Exchange by the end of the year, the company announced in a Nov. 14 statement. If ECM succeeds, it would be the second IPO on the Prague bourse in 12 years. The company owns several subsidiaries in the Czech Republic and Russia.

DROXI