Business Briefs
4G mobile network eyes big money
The Czech Telecommunications Office (ČTÚ) regulator expects the auction for long-term evolution (LTE) frequencies to bring 7 billion Kč to the Czech Republic this year. The ČTÚ canceled the first auction in March, saying it was concerned that the bids submitted, which totaled more than 20 billion Kč, would lead to customers paying higher prices. LTE is a fourth-generation (4G) mobile technology and offers consumers faster download speeds than existing 3G services. Before it was canceled, the last auction received bids from T-Mobile Czech Republic, Vodafone Czech Republic, Telefónica CR and the private equity fund PPF Mobile Services. PPF would have been a new entrant to the market.
The Czech Telecommunications Office (ČTÚ) regulator expects the auction for long-term evolution (LTE) frequencies to bring 7 billion Kč to the Czech Republic this year. The ČTÚ canceled the first auction in March, saying it was concerned that the bids submitted, which totaled more than 20 billion Kč, would lead to customers paying higher prices. LTE is a fourth-generation (4G) mobile technology and offers consumers faster download speeds than existing 3G services. Before it was canceled, the last auction received bids from T-Mobile Czech Republic, Vodafone Czech Republic, Telefónica CR and the private equity fund PPF Mobile Services. PPF would have been a new entrant to the market.
Swiss court hears Czech case
Six Czechs and one Belgian face charges for conspiring to take control of the second-largest Czech mining corporation, Mostecká uhelná společnost (MUS), now called Czech Coal, between 1997 and 2003. At the Swiss Criminal Court in Bellizona May 13, it was claimed the defendants had done "nothing illegal." Numerous Czech investigations were held from 2003 but reportedly found little or no evidence of wrongdoing, prompting Swiss authorities, who are trying to clean up their image as a haven for fraudulent money, to tackle the case directly. The Swiss authorities have intercepted some of the diverted funds and seized around 14 billion Kč held in Swiss accounts.
Six Czechs and one Belgian face charges for conspiring to take control of the second-largest Czech mining corporation, Mostecká uhelná společnost (MUS), now called Czech Coal, between 1997 and 2003. At the Swiss Criminal Court in Bellizona May 13, it was claimed the defendants had done "nothing illegal." Numerous Czech investigations were held from 2003 but reportedly found little or no evidence of wrongdoing, prompting Swiss authorities, who are trying to clean up their image as a haven for fraudulent money, to tackle the case directly. The Swiss authorities have intercepted some of the diverted funds and seized around 14 billion Kč held in Swiss accounts.
Korean Air rep joins the board of ČSA
A Korean Air official has taken up a place on the supervisory board of Czech Airlines (ČSA). Cho Won-Tae, executive vice president for corporate strategy and planning at Korean Air, was elected to the three-member board at an extraordinary general shareholders' meeting of ČSA. It comes shortly after Korean Air bought a 44 percent stake in ČSA, leaving the controlling stake with the government-owned Czech Aeroholdings. Cho takes up his position June 1, replacing Petr Matoušek, who resigned from his post. Analysts suggest ČSA is likely to expand its long-haul network following Korean Air's investment.
A Korean Air official has taken up a place on the supervisory board of Czech Airlines (ČSA). Cho Won-Tae, executive vice president for corporate strategy and planning at Korean Air, was elected to the three-member board at an extraordinary general shareholders' meeting of ČSA. It comes shortly after Korean Air bought a 44 percent stake in ČSA, leaving the controlling stake with the government-owned Czech Aeroholdings. Cho takes up his position June 1, replacing Petr Matoušek, who resigned from his post. Analysts suggest ČSA is likely to expand its long-haul network following Korean Air's investment.
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